Currency pair Euro to US Dollar EUR/USD completes the trading week near the local maximum area level of 1.1220. It is worth to expect an attempt to rebound from the upper limit of the rising channel and the fall of the euro’s quotations to the area below the level of 1.1050.
EUR/USD forecast on May 29, 2017 — June 2, 2017
Where can we expect the rebound and the continued growth of the pair EUR/USD. In favor of growth, an uptrend line test will be performed on the indicator of relative strength index (RSI). In the event of a breakdown of this line and a drop in quotations below the area of 1.0950, it is worth waiting for the resumption of the fall of the euro with a target below the area of 1.0650.
Among the important news from America and Europe in the next trading week, which can have an impact on the EUR/USD rate is:
May 30, 2017, Wednesday, Consumer Confidence Indicator.
May 31, 2017, Thursday, Chicago PMI Index, Change in the number of unemployed and Unemployment rate in Germany.
EUR/USD forecast on May 29, 2017 — June 2, 2017 suggests an attempt to drop the euro’s dollar quotations in the area below the level of 1.1050, from which it is expected to rebound and continue the pair’s growth, the cancellation will be the breakdown of the area 1.0950, which will indicate the continued decline in EUR/USD Below the level of 1.0650.
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