Currency pair EUR USD continues to trade on the FOREX in line with expectations and our forecast of the dollar euro on the week 05/16/2016 – 20/05/2016. At the moment, there is the potential to see the fall of the euro against the US dollar quotations in an area at 1.1250, where correction is expected to attempt to complete the development of the formation of topping models forex head and shoulders.
FOREX Euro Dollar Forecast May 17 2016
Now we have no open positions on the EUR USD, but close to the level of support we are ready to try to buy with tight stop. Thus, FOREX Euro Dollar Forecast May 17 2016 suggests an attempt to fall in the region at the level of 1.1250, where we can expect the beginning of the upward movement in the area above the level of 1.14, cancellation will break through the 1.1200 level.