Currency pair Euro Dollar EUR/USD continues to move within the context of a bearish correction development and a descending channel. Moving averages indicate the presence of a short-term bullish trend on this pair. Prices are once again testing the area between signal lines, which indicates pressure from buyers of European currency and potential continuation of price increases for already current levels. At the time of the forecast publication, the Euro to Dollar exchange rate for today is 1.1236. In the Forex prediction for May 16, 2025, expect an attempt at developing a bearish correction in price action and testing the resistance level, located on the EUR/USD pair near the area of 1.1235. Following that, a price bounce downwards and continuation of the fall in the Euro Dollar currency pair. The potential target for this movement on FOREX is an area below the level of 1.1055.
EURUSD Forecast Euro Dollar for May 16, 2025
Additional signals in favor of the bearish scenario development on the currency pair EUR/USD tomorrow will be a rebound from the descending resistance line on the RSI indicator. A second signal for such an option is a rejection of the upper boundary of the descending channel. Cancellations of the price drop scenario for the Euro Dollar currency pair tomorrow would come with strong growth and breaking through the level 1.1365, indicating a breakthrough in the resistance area and continuation of the bullish impulse up to the level 1.1675. To expect confirmation of the decline on the EUR/USD currency pair should be when there is penetration into the support zone at the level 1.1195, which will indicate breaking through the bottom boundary of the bearish correction channel.
EURUSD Forecast Euro Dollar for May 16, 2025 predicts an attempt to develop a bullish correction for the pair and test the resistance area near level 1.1235. From there, consider a price bounce in the EUR/USD currency pair downwards and an attempt to continue the asset’s decline in the market region below level 1.1055. An additional signal for reducing the instrument on the Forex market would be testing the resistance line on the Relative Strength Index (RSI). Cancellation of the downside option for the EUR/USD pair will come with a strong rise in quotations and breaking through the level of 1.1365. This will indicate a breakout of the resistance area and continuation of the growth of the currency pair on Forex to the region above the level of 1.1675.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
