Forex Market Forecasts for EUR/USD
What will happen in 2017 and our forecasts in this article. in the forex market the forecasts for EUR/USD is to reach levels of 0.90. The euro weakness continue in 2017 due too serious budget problems in the euro Zone also interest rates divergence. The Pound to cut the half the losses against the dollar in 2017 and became more attractive currency. crude oil slowly will recover to $65 for a barrel (New York) as the trading range is $42 – $65.
The war in syria will end in 2017 but in iraq the war will continue together with new escalating of the conflict in libya. a bad year for Europe we expecting where there ar 2 scenarios in 2017-2018. the most negative expectations ar the beginning of civil war in Western Europe. the other way is Western Europe to start cooperating with the Russian Federation and end of the sanctions. after Brexit other countries will try to leave european union as higher chance to see for France and Italian Republic.
EURUSD Larger Timeframe View- Is corrective structure over?
In Larger time frame EURUSD looks like in corrective struture pattern. till currently looks like an ABCs pattern to me. If thats so then bigger upward move is coming so look for it, it can be big impulse to up or other impulse in corrective structure. i am waiting for that move. this is my view on larger time frame not a trade call.