Currency pair EUR USD Forex completed last month growth, but we have not yet gone beyond the lateral movement in the pair. Only a strong break of 1.17 will lead to the beginning of the upward movement and attempt to work out the price range in which the euro, the dollar was trading for over a year. At the beginning of May 2016, we expect an attempt to rebound from the resistance level of lateral movement, which implies a drop in the EUR USD region at a level below 1.10.
Forex forecast Euro Dollar (EUR/USD) on May 2016
Moreover, even on the weekly chart, the euro dollar, subject to increase in the region at the level of 1.17, we again obtain the test downward trend line on the indicator of relative strength, which implies a fall of development.
Thus, Forex forecast Euro Dollar (EUR/USD) on May 2016 suggests an attempt to rebound from the top of the lateral movement on a pair of euro dollar, or the same level test 1.17 gives new levels for sales eur usd, a potential target for the fall is the lower limit of the flat at the level of 1.05.