Before the publication of statistics from the US, the euro / dollar pair was rising. The data turned out to be mixed up: the number of initial applications for unemployment benefits fell down to 268 million (the figure was expected to be at 275,000), but the number of repeat applications for unemployment benefits rose to 2163 thousand, while analysts expected a decline down to 2142 thousand.
EUR/USD technical analysis and forecast on May 27
The euro showed a sharp increase, however, test the lower boundary of the rising channel did not happen. The RSI rebounded from the support level and is going to the resistance area, which indicates the test of the upper boundary of a descending correction channel. The EUR / USD forecast on 25 May 2016 involves the weakening dollar, but the “bears” may attempt to decrease toward 1.1125 to complete the correction.
