Currency pair Euro/Dollar EUR/USD continues to move as part of the correction and the downward channel. Moving averages indicate a short-term bearish trend in the pair. At the time of the publication of the forecast, the euro/dollar rate is 1.1197. At the moment, we should expect an attempt to continue growth and test the resistance level near the 1.1215 area. Further, the rebound and the continuation of the decline in the currency pair Euro/Dollar. A potential goal of such a movement is the area below the level of 1.1025.
EUR/USD Forecast Euro Dollar May 28, 2019
The downward resistance test on the relative strength index (RSI) will be in favor of the EUR/USD quotes drop. The second signal will be a rebound from the upper boundary of the descending channel. Cancellation of the option of falling quotations of the euro dollar currency pair will be a strong growth and the breakdown level of 1.1265. This will indicate a breakdown of the resistance area and continued growth in the area at 1.1385. Expect confirmation of a fall on the EUR/USD pair with the breakdown of the support area and closing below 1.1105.
Among the important news from Europe and America, which may have an impact on the EUR/USD pair, it is worth highlighting: The Conference Board of the United States Consumer Confidence Index.
EUR/USD Forecast Euro Dollar May 28, 2019 implies an attempt to test the upper limit of the downward channel near the level of 1.1215. Where should we expect a rebound and an attempt to continue to reduce the pair to an area below the level of 1.1025. In favor of the fall of the currency pair will test the area of resistance on the indicator of relative strength index (RSI). Cancellation of the option to reduce EUR/USD will be a strong growth and the breakdown level of 1.1265. This will indicate a breakdown of the resistance area and continued growth of the pair to the area above the level of 1.1385.
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