The Euro Dollar EUR/USD currency pair continues to move within the bearish correction channel. Moving averages indicate a short-term bearish trend for the pair. Prices have broken below the signal lines, indicating growing downward pressure from sellers of the European currency and a potential further decline in the currency pair from current levels. At the time of publication of this forecast, the Euro to Dollar exchange rate is currently 1.1602. As part of the Forex forecast for May 21, 2026, we expect an attempt to further decline in prices and a test of the support level located near 1.1545 for the EUR/USD pair. Subsequently, we expect an upward rebound in prices and continued growth momentum in the Euro Dollar currency pair. The potential target for such a move on Forex is above 1.1715.
EUR/USD Forecast Euro Dollar for May 21, 2026
An additional signal in favor of a growth scenario for the EUR/USD currency pair tomorrow will be a rebound from the support 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 price decline and a breakout of 1.1525 will cancel the upward scenario for the EUR/USD currency pair tomorrow. This will indicate a breakout of the support area and a continuation of the decline to 1.1435. Confirmation of the growth in the EUR/USD currency pair should be expected with a breakout of the resistance area at 1.1635, which will signal a breakout of the upper boundary of the downward correction channel.
EUR/USD Forecast Euro Dollar for May 21, 2026 suggests an attempt to develop a bearish correction in currency quotes with a test of the support level near 1.1545. Where should we expect an upward rebound in the Euro/Dollar currency pair and an attempt to continue the instrument’s growth on the Forex market, targeting 1.1715? An additional signal supporting this scenario would be a rebound from the support line on the relative strength indicator (RSI). A decline in the EUR/USD pair and a breakout of 1.1525 would cancel the upward trend. This would indicate a breakout of the support zone and a continued decline in the currency pair on Forex toward 1.1435.
