Currency pair Euro Dollar EUR/USD continues its movement within the context of a downward development and formation of a reversal pattern “Double Peak”. Moving averages indicate the presence of a short-term bull trend for the pair. Prices broke through the area between signal lines upwards, indicating pressure from buyers of the European currency and potential continuation of the rise in quotes already at current levels. At the time of the forecast publication, the Euro to Dollar rate is 1.1325. Within the Forex forecast for May 28, 2025, one should expect an attempt of price quote growth and testing the resistance level located on the EUR/USD pair near the area of 1.1425. Subsequently, a price rebound downwards and continuation of the Euro Dollar currency pair decline. The potential target for such movement in Forex is the area below the 1.0925 level.
EUR/USD Forecast Euro Dollar for May 28, 2025
Additional confirmation for the scenario of a downward development on the currency pair EUR/USD tomorrow will be a bounce off the bear trend line on the RSI indicator. The second signal in favor of this option is pushing back from the upper boundary of the reversal pattern “Double Peak”. Cancellation of the price drop option for the Euro Dollar currency pair tomorrow would be a strong rise and a breakout above 1.1585. This indicates breaking through resistance area and continuing the up movement to level 1.1775. Expectation of confirmation of the downward trend on the EUR/USD currency pair should occur with a breakthrough of the support area at 1.1205, indicating a break through the lower boundary of the bull channel.
EUR/USD Forecast Euro Dollar for May 28, 2025 anticipates an attempt at price growth development and testing the resistance level near 1.1425. This would be followed by a rebound of currency pair Euro Dollar quotes and an attempt to continue the asset’s value drop on the market until the mark of 1.0925. A supportive signal for reducing the instrument in the Forex market will be a bounce off the resistance line on the Relative Strength Index (RSI) indicator. A rejection of the downward drop option for EUR/USD pair would be strong price growth and breaking through the level of 1.1585, which would indicate a breach of the resistance zone and continued upward movement of the Euro Dollar currency pair on Forex to the mark of 1.1775.
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