Only on Friday, investors decided whether to sell or buy euro. Trading mood changed often over the past five days. It is still too early to tell if the market players are ready to continue sales.
Data from the euro zone by the region’s GDP for January-March 2016 show an increase by 0.5% q / q, the growth by 0.6% q / q was anticipated.
EUR/USD technical analysis and forecast for 05/16/2016 – 05/20/2016 week
EUR / USD continues a reduction after the test of the trading channel’s upper boundary. The RSI on the daily chart is approaching the support level, which limits the downward movement. The EUR / USD forecast for the week considers a reduction of euro towards 1.12, where “bulls” may be active.
