Currency pair Euro Dollar EUR/USD continues its movement within the framework of developing a bullish correction and forming a reversal pattern “Wedge”. Moving averages indicate the presence of a short-term ascending trend for the pair. Prices broke through the area between signal lines upwards, which indicates pressure from buyers of the European currency and potential continuation of price increase already at current levels. At the time of this forecast publication, the Euro to Dollar exchange rate stands at 1.1250. Within the Forex forecast for May 21, 2025, it is expected that a development attempt of a bullish correction of the price and testing of the resistance level will occur on the EUR/USD pair near the area of 1.1285. Following this, price rebound downwards and further decline in the Euro Dollar currency pair. The potential target for such movement on FOREX would be an area below the level of 1.1085.
EURUSD Forecast Euro Dollar for May 21, 2025
Additional signals for the development of a bearish scenario on the currency pair EUR/USD tomorrow include a bounce off the descending resistance line on the RSI indicator. The second signal in favor of this option is a rebound from the upper boundary of the reversal pattern “Clamp”. Confirmation of the drop in the Euro Dollar currency pair prices tomorrow will come with strong growth and breaking through the level 1.1365. This would indicate突破the resistance area and continuation of the bullish impulse up to the level 1.1575. A confirmation for the expected decline on the EUR/USD currency pair should be awaited with a breach of the support zone at level 1.1175, indicating a break through the upper boundary of the reversal pattern “Clamp” and the start of implementing the pattern with targets downwards.
EURUSD Forecast Euro Dollar for May 21, 2025 anticipates the development of a bullish correction in the pair and testing the area of resistance near 1.1285 level. From where to consider the price rebound of the Euro Dollar currency pair down and attempt continuation of asset’s decline in an area below 1.1085 levels. An additional signal for reducing the instrument on the Forex market would be a test of the resistance line on the Relative Strength Index (RSI). Rejection of the fall scenario for EUR/USD will be a strong rise in quotations and breakthrough of the level 1.1365. This will indicate a breach of the resistance area and continuation of growth of the currency pair on Forex to an area above 1.1575 levels.
