Falling of the euro on the Forex Trading on Tuesday have slowed down. The “bulls” on the EUR/USD pair have been supported by the publishing of the business climate index throughout Germany by the IFO institution, which is tightly correlated with the GDP of the eurozone locomotive. The index showed the raise up to 107.7 points, the market expected a growth up to 106.9 points
EUR/USD technical analysis and forecast on May 26
“Bulls” on dollar have reached the goal set in the weekly EUR/USD forecast, also there has not been any test over the lowest border of the descending channel yet. The RSI on the four hour chart is in the support area, which limits the following quotations reduction. The EUR/USD forecast for tomorrow, May 26 considers the consolidation in the lowest border area, probably we will see an upward rebound.
