FOREX Forecast EUR/USD for tomorrow. The pair is consolidating

EURUSD prognoz2New bad news are coming from the euro zone. Inflation returned to negative area, the preliminary value of inflation in February is -0.2%, which is unusual before the ECB meeting.

Technical analysis and forecast for EUR/USD on tomorrow

Currency pair EUR/USD shows a consolidation after the test of formed descending channel’s lower border. As it was expected, the RSI indicator showed a rebound from the support level, indicating a slowing of the downward movement. Forecast EUR/USD for tomorrow is to consolidate in a narrow range and further decrease of the pair in the region of 1.08.

 

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