Currency pair Euro to US Dollar EUR/USD to be traded within the forex pattern «Wedge». At the moment, the acuteness is to wait for a breakdown of the lower boundary of the model and the fall of the euro’s quotations to the area below the level of 1.11.
EUR USD forecast & analysis on May 24, 2017
In favor of a possible decline in the euro is the formation of a reversal model «Failure Swing» on the indicator of relative strength index (RSI). Expect the acceleration of the fall in quotes EUR/USD stands with the breakdown of the support line on the indicator of relative strength. The cancellation of the fall option will be the breakdown of the forex pattern «Wedge» upwards and the closing of quotes of the pair above the level of 1.1280.
Among the important news that can influence the euro against the dollar, it is worth highlighting: ECB President Mario Draghi’s speech, Publication of the minutes of the Fed meeting, one should expect the growth of volatility at the time of publication of the news.
EUR USD forecast & analysis on May 24, 2017 involves an attempt to fall the breakdown of the lower boundary of the forex pattern «Wedge» and the beginning of the fall into the area below the level of 1.11, an additional signal is the formation of a reversal model on the indicator of relative strength index (RSI), the cancellation will be the breakdown of the region 1.1280.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
