EUR/USD Forecast. When will the Dollar cease to strengthen?

EUR/USD
Home >forecast
EUR/USD Forecast. When will the Dollar cease to strengthen?
April 10, 2017
Author
Richard NaidooRichard Naidoo
EUR/USD Forecast. When will the Dollar cease to strengthen?

Last week's results

By the middle of the week, investors fixated profit, resulting in a correction, as we warned in the previous forecast. With the release of unemployment statistics, the US Dollar has continued to strengthen.

Fundamental Forecast for the EUR/USD

Let's take a closer look at the news, which may affect the price of EUR / USD:

  • The producer price index in the US (Thursday, 14:30, GMT + 2)
  • The basic price index in the US (Friday, 14:30, GMT + 2)

Conclusion on the fundamental forecast

As you can see, this week is sparse on interesting news that could have changed the trend for the asset, so traders expect the Dollar to gradually strengthen against the Euro.

Technical Forecast for the EUR/USD

The asset continues to form a bearish trend, as portrayed by the indicators:

  • MACD shows strengthening of bearish positions
  • Price broke through the top-down fan Moving Averages
  • Price has approached the support level of 1.05960 (Pivot Points)

Conclusion on technical forecast

Traders do not expect active movement for weeks, as well as news that could change the trend for the asset. Based on these facts, analysts recommend that you continue to trade on the trend and sell the asset.

Pivot Points

  • Bull market: 1.08453
  • Bear market: 1.05960

Recommendations for the trading week

The current trading week can work out trend strategies very well. By the way, we recently created one of these strategies, which shows excellent results, if you trade on the trend. More can be read about it here.

A brief overview of a broker with a license

We continue a series of short reviews about brokers. This week we have prepared a review about one of the market leaders - 24Option. The broker provides a free demo account, as well as a professional trading platform. An overview can be found in this article.

EUR/USD Forecast. When will the Dollar cease to strengthen?

Reviews

Is It Helpful For Me?

Thank you!
Thank you!

More Forecasts

Trusted Binary Options Brokers

IQ Option ReviewIQ Option ReviewOpen account
Your Capital is at Risk
AnyOption ReviewAnyOption ReviewOpen account
Your Capital is at Risk
24Option Review24Option ReviewOpen account
Your Capital is at Risk