EUR/USD forecast for May 28, 2015

May 28, 2015

General overview

The US and Germany 10-year government bonds yields increased which is a negative factor for the euro. The German and the Greek bond yields have also grown upwards.

Athens has already made it clear to its creditors that they cannot fulfill their obligations and the debt market dynamics signals to us that at the moment the compromise is not found.

The euro activity has been declining against the US dollar for the second week. The downward trend is developing amid the increased volumes - sellers are still dominant in the market.

The price is finding the first support at 1.0790, the next one is 1.0670. The price is finding the first resistance at 1.0925, the next one is at 1.1050.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

We suppose the pair will go to 1.0925 first. Having overcome the first target the price might go upwards to 1.1050, 1.1150.

Publication source
Fort Financial Services information  Fort Financial Services reviews

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