Currency pair Euro Dollar EUR/USD continues its movement within the framework of decreasing development and a bear channel. Moving averages indicate the presence of a short-term bullish trend for the currency pair. Prices are once again testing the area between signal lines, which indicates pressure from Euro currency buyers and the potential continuation of price increase in the currency pair already at current levels. At the time of the forecast’s publication, the Euro to Dollar exchange rate stands at 1.1322. For the Forex forecast on May 29, 2025, it is expected that there will be an attempt to develop a rise in prices and testing the resistance level, which is located on the EUR/USD pair near the area of 1.1365. Then, price bounce downwards and continuation of the Euro Dollar currency pair decline. The potential target for such movement on FOREX would be an area below the level of 1.1085.
EUR/USD Forecast Euro Dollar for May 29, 2025
Additional signal for the development of a down scenario on the currency pair EUR/USD tomorrow would be a rebound from the bear trend line on the RSI indicator. The second signal in favor of this option is bouncing off the lower border of the bull channel. Cancelling the scenario of price drops on the EUR/USD currency pair tomorrow will be a strong rise and breaking through the level of 1.1505. This would indicate the resistance area and continuation of the upward development to the level of 1.1685. Expect confirmation of the down trend on the EUR/USD currency pair with a breach of the support zone at the level of 1.1245, which would indicate breaking through the lower border of the bull channel.
EUR/USD Forecast Euro Dollar for May 29, 2025 anticipates an attempt to develop a price rise and test the resistance level near the level of 1.1365. From where it is advisable to consider a bounce in the currency pair Euro Dollar quotes and an attempt to continue the fall in the asset’s value on the market until the mark of 1.1085. An additional signal in favor of reducing the instrument on the Forex market will be rebounding from the resistance line on the Relative Strength Index (RSI). Cancellation of the EUR/USD pair decline option will be a strong rise in quotes and breaking through the level of 1.1505. This indicates a break above the resistance zone and continuation of the currency pair’s rise on Forex to the mark of 1.1685.
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