Quotations of the currency pair Euro to US Dollar EUR/USD are trading at 1.1134. At the moment, the quotes of the pair Euro to US Dollar move near the upper boundary of the bullish channel. It is worth waiting for the test of the region of the upper line of the uplink near the level of 1.1170 and the falling quotations of the pair Euro to US Dollar in the support area at the level of 1.1040. In the event of a breakdown the support level, it is necessary to expect the continuation of the EUR/USD decline development with the target below 1.0840.
EUR/USD forecast & technical analysis on May 19, 2017
In favor of the decline is the formation of a reversal model on the MACD indicator, as well as a test of the upper boundary of the bullish channel. The cancellation of the falling quotations of the currency pair Euro to US Dollar EUR/USD will be the output of quotations out of the level of the ascending channel and the consolidation of the currency pair above the level of 1.1220. However, as the main option, you should expect the currency pair Euro to US Dollar EUR/USD to fall below 1.1040.
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