EUR/USD Daily Forecast - 28 May

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Monday, May 28 2018

EUR/USD Daily Forecast - 28 May

EURUSD (1.1718): The EURUSD currency pair extended strong losses on Friday as price action broke past the 1.1672 handle. However, with price closing around 1.1649, a rebound off this level is expected. In the near term, we expect the EURUSD to consolidate within 1.1730 and 1.1650 region ahead of a potential retracement in prices. Further declines in price action could send the common currency lower, targeting 1.1500 handle.

On the 4-hour chart, price action continues to post steep losses which could trigger a strong pullback in the near term. Above 1.1730, the EURUSD could be seen testing the resistance level at 1.1846 – 1.1824

More in this category: « GBP/USD Daily Forecast - 25 May AUD/USD Daily Forecast - 29 May »

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