Currency pair Euro to US Dollar EUR/USD continues to trade near the support area at 1.1167. It is worth waiting for an attempt to rebound the pair into the area above the level of 1.1200. In favor of the growth of the euro, the dollar is the upward support test on the indicator of relative strength index (RSI).
EUR/USD forecast, analysis & signals on May 30, 2017
With the breakdown of this line, one should expect the continuation of the fall and a test of a similar trend line on the price chart EUR/USD with a target at level 1.1005. In case of breakdown of the local maximum area, we should expect the EUR/USD pair to continue growing.
Among the important news that can affect the euro against the dollar, it is worth highlighting: the consumer price index in Germany, the basic index of spending on personal consumption in the US, the change in the level of expenditure of the population. Indicator of consumer confidence in the US, is expected to slightly decrease from 120.3 to 120.1, which may have a short-term pressure on the dollar.
EUR/USD forecast, analysis & signals on May 30, 2017 involves a rebound attempt in the area of 1.12, where it is expected to continue the fall of the pair with a target below the level of 1.1005, the cancellation will be the breakdown of the local maximum area.
