Currency pair EUR/USD continues to be traded on forex as part of upward correction. Currently, we should expect trying of test the upper limit of the downward channel and continuous falling under the beginning of the descending pattern 5-0. The purpose of the fall is the area on the level below 1.0750. Cancellation option may be breaking through the upper limit of the downward channel. The second option may be the formation of an inverted head and shoulders pattern, on which we can safely try to buy with close stop. An additional signal in favor of the fall is the resistance area test on the relative strength indicator.
Forex Forecast EUR/USD for tomorrow, 03/08/2016
Thus, Forex Forecast EUR/USD on 03.08.2016 involves test of 1.1060 level, where we can expect the fall try to 1.0750.
