Recently published economic data of Euro Zone suggests ECB may not continue quantitative Easing beyond Dec 2017. So EUR/USD may start uptrend again.
TECHNICAL ANALYSIS: EUR/USD is in correction mode on weekly and monthly chart.
TOOLS USED: BOLLINGER BAND, ADX, COMMODITY CHANNEL INDEX CCI, MACD, FIBONACCI RETRACEMENT.
CHARTS: WEEKLY AND MONTHLY
WEEKLY CHART:
- EUR/USD is reaching near the middle level of Bollinger band.
- CCI is falling.
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