The Euro Dollar EUR/USD currency pair continues to move within a bullish correction and has broken out of the bullish channel. Moving averages indicate a short-term bullish trend for the pair. Prices have broken below the signal lines, indicating growing selling pressure for the European currency and a potential continuation of the decline in the currency pair from current levels. At the time of publication of this forecast, the Euro to Dollar exchange rate is currently 1.1650. As part of the Forex forecast for May 19, 2026, we expect an attempt at a bullish correction and a test of the resistance level located near 1.1675 on the EUR/USD pair. Subsequently, a downward rebound in prices and continued downward momentum in the Euro Dollar currency pair is expected. The potential target for such a move on FOREX is below 1.1485.
EUR/USD Forecast Euro Dollar for May 19, 2026
An additional signal in favor of a downward scenario for the EUR/USD currency pair tomorrow will be a rebound from the resistance line on the RSI indicator. A second signal in favor of this scenario will be a rebound from the lower boundary of the bullish channel. A strong price increase and a breakout of 1.1785 will cancel out the downward scenario for the EUR/USD currency pair tomorrow. This will indicate a breakout of the resistance area and a continued rise to 1.1995. Confirmation of the downward trend for the EUR/USD currency pair should be expected with a breakout of the support area at 1.1595, which will signal the beginning of the Double Top reversal pattern.
EUR/USD Forecast Euro Dollar for May 19, 2026 suggests an attempt to develop a bullish correction in currency quotes with a test of the resistance level near 1.1675. Where should we expect a downward rebound in the Euro/Dollar currency pair and an attempt to continue the instrument’s decline on the Forex market, targeting 1.1525? An additional signal supporting this scenario would be a rebound from the resistance line on the relative strength indicator (RSI). A strong rise in the EUR/USD pair and a breakout of 1.1785 would cancel the downward scenario. This would indicate a breakout of the resistance zone and a continued rise in the currency pair on Forex to 1.1995.
