The currency pair Euro Dollar EUR/USD continues to move within the development of the decline and the realization of the reversal pattern “Head and Shoulders”. Moving averages indicate the presence of a short-term bearish trend on the pair. Prices broke through the area between the signal lines downwards, which indicates pressure from the sellers of the European currency and potential continuation of the currency pair quotes growth from the current levels. At the time of publication of the forecast, the Euro to Dollar exchange rate for today is 1.1278. Within the Forex forecast for May 13, 2025 we should expect an attempt to develop a bullish price correction and test the resistance level, which is located on the EUR/USD pair near the area of 1.1175. Further, the price rebound downward and the continuation of the fall of the currency pair EUR/USD. The potential target of such a movement on FOREX is the area below the level of 1.0925.
EURUSD Forecast Euro Dollar for May 13, 2025
An additional signal in favor of the development of a bearish scenario on the EUR/USD currency pair tomorrow will be a rebound from the descending resistance line on the RSI indicator. The second signal in favor of this option will be a rebound from the upper boundary of the descending channel. A strong growth and breakdown of the level of 1.1355 will cancel the variant of the Euro-Dollar currency pair quotes fall tomorrow. This will indicate the breakdown of the resistance area and the continuation of growth to the area at 1.1745. Expect confirmation of the fall in the EUR/USD currency pair with the breakdown of the support area at 1.1035.
EURUSD Forecast Euro Dollar for May 13, 2025 suggests an attempt to develop a bullish correction of the pair and test the resistance area near the level of 1.1175. From where we should consider a rebound in the price of the currency pair Euro Dollar downward and an attempt to continue the fall of the asset in the market to the area below the level of 1.0925. An additional signal in favor of the decline of the instrument at the Forex market will be a test of the resistance line on the relative strength indicator (RSI). A strong growth of quotes and breakdown of the level of 1.1355 will cancel the variant of EUR/USD pair decline. This will indicate the breakdown of the resistance area and the continuation of the currency pair growth at Forex to the area above the level of 1.1745.
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