The currency pair Euro to US Dollar EUR/USD continues to trade within a strong bullish imlulse, but at the moment the quotes test the upper limit of the Forex model “Expanding Formation”. What can indicate an attempt to correct the pair in the region of the broken edge of the bullish channel. The target of the fall is the area at the level of 1.1010.
EUR/USD Forex forecast Euro Dollar on May 18, 2017
In favor of the drop is the resistance line test on the relative strength index indicator. Canceling the option of developing a correction for a pair Euro to US Dollar EUR/USD, will be a breakdown of the region 1.1150, which will indicate an acceleration of growth with a potential target above the level of 1.13, within the framework of working through the broken channel.
Among the important news that may affect the Euro against the US Dollar, it is worth highlighting: Unemployment Claims is expected to slightly change the indicator from the level of 236K to 240K level. Philly Fed Manufacturing Index, is expected to fall from 22.0 to 18.9, which could put pressure on the US dollar. ECB President Mario Draghi Speaks.
EUR/USD Forex forecast Euro Dollar on May 18, 2017 involves an attempt to correct the pair in the area of 1.1010 within the rebound from the upper boundary of the Forex model “Expanding Formation”, cancellation will be the breakdown of the region 1.1150.
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