The currency pair Euro to US Dollar EUR/USD continues to be traded within the framework of the rising channel. The pair was able to return below the upper boundary of the channel, indicating a potential decline in the pair. It is necessary to expect the formation of the reversal forex pattern «Head and Shoulders» with the test of the level 1.1215.
EUR/USD forecast Euro Dollar on May 25, 2017
In favor of continuing the decline of the pair is the breakdown of the support line on the indicator of relative strength index (RSI), the target for working out this model is the area at the level below 1.11. Canceling of the fall of the Euro to US Dollar pair on Forex will become a strong blow to the breakdown of the local maximum area, which will indicate the continuation of the pair’s growth.
Among the important news that can affect the euro against the dollar, it is worth highlighting: Unemployment Claims, is expected to increase slightly from 232K to 238K.
EUR/USD forecast Euro Dollar on May 25, 2017 suggests an attempt to fall correction to the area of 1.1215, where it is expected to continue reducing the pair as part of the development of the reversal forex pattern «Head and Shoulders», the cancellation will be the update of the local maximum area.
