The release of the US GDP in the first quarter put pressure on the US dollar shaky position. GDP вк to 0.5% q / q, which was the worst figure since March 2014. FOMC’s neutral rhetoric forced investors to switch their attention to other currencies.
EUR/USD technical analysis and forecast for 05/02/2016 – 05/06/2016 week
The euro showed a five-day rise against the dollar, but the EUR / USD currency pair continues to trade in the descending channel. Quotes are testing the upper limit, the RSI indicator has been corrected upwards, but the test of trend line did not happen, signalizing another cut. The forecast for EUR / USD for 02 May 2016 – 06 May 2016 provides a price decline to 1.1150. However, quotes consolidation above 1.1400 level will signal in favor of an upward movement continuation.
