Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1806 and continues to move within the fall. At this point, we should expect an attempt to test the resistance area near the level of 1.2050 and the continuation of the fall of the euro dollar in the area below 1.1500.
EUR/USD weekly forecast May 21 — 25, 2018
In favor of the fall of EUR/USD, a downlink test will be performed on the relative strength index (RSI), as well as a channel boundary test. The cancellation of the fall of the pair’s quotations in the current trading week will result in a strong growth and breakdown at the level of 1.2250, which will indicate the breakdown of the channel’s borders and the continuation of the pair’s growth into the area above the level of 1.2550.
EUR/USD weekly forecast May 21 — 25, 2018 suggests an attempt to increase in the resistance area near the level of 1.2050, from which it is expected to continue the fall of the pair in the area below 1.1500, in favor of the fall will test the trend line on the indicator of relative strength, the fall of the euro dollar will be strong growth and breakdown at 1.2250, in which case we should expect the pair to continue growing with a potential target at 1.2550.