The currency pair Euro Dollar EUR/USD continues its movement within the context of a bullish correction development and a descending channel. Moving averages indicate the presence of a short-term ascending trend on the pair. Prices pierced the area between signal lines upwards, indicating pressure from buyers of the European currency and potential continuation of the price rise already at current levels. At the time of this forecast publication, the Euro to Dollar exchange rate stands at 1.1272. Within the Forex outlook for May 20, 2025, one should anticipate an attempt at developing a bullish correction of the price and testing the resistance level on EUR/USD near the area of approximately 1.1305. A subsequent drop in prices and continuation of the depreciation of the Euro Dollar currency pair follows. The potential target for such movement on FOREX is below the level of 1.1095.
EURUSD Forecast Euro Dollar for May 20, 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 bounce off the upper boundary of the descending channel. Cancellation of the decline in the value of the Euro Dollar currency pair for tomorrow would be a strong rise and a break above the 1.1425 level, indicating a breakthrough of the resistance area and a continuation of the bullish impulse to the level of 1.1685. Expect confirmation of the decline on the EUR/USD currency pair with a breach of the support area at 1.1175, which indicates a breakout of the lower boundary of the bear correction channel.
EURUSD Forecast Euro Dollar for May 20, 2025 suggests an attempt of developing a bullish correction in the pair and testing the resistance area near the level of 1.1305. From there, one should consider the price rebound of the Euro Dollar currency pair downwards and an attempt to continue the asset’s decline in the region below the level of 1.1095. An additional signal in favor of reducing the instrument on the Forex market will be a test of the resistance line on the Relative Strength Index (RSI) indicator. The rejection of the EUR/USD pair fall scenario will be a strong rise in quotes and breaking through the level of 1.1425, which will indicate a break through the area of resistance and continued growth of the currency pair on Forex in the region above the level of 1.1685.
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