The currency pair EUR/USD on FOREX is traded in the framework of side motion. It is likely that serious movements will not appear on the market before the decision on Federal Fund rate and Euro will be still trading next to the level 1.11. We are holding sales in the framework of the big model Head&Shoulders on the day pair’s chart. The strong growth of EUR/USD quotations higher than level 1.1260 can cancel the option of applying the reversal model. The basic goal of falling and model application is the area at level of local maximum close to 1.04-1.02.
Daily forex forecast/signal EUR/USD on March 17
Thus, the FOREX forecast for 17.03.2016 considers the attempt of the falling in the framework of the right shoulder of the reversal model termination, but the pair may be seriously affected by the decision on Federal Fund rate, and the following conference of Janet Yellen. We are holding the sales in the framework Head&Shoulders on the pair’s day chart.
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