The European currency holds the position. Traders are preparing for the ECB meeting and Mario Draghi press conference, scheduled for Thursday. It is expected that the regulator will not change the current rates. The focus will be on the ECB’s forecasts in terms of growth and inflation in the euro area.
EUR/USD technical analysis and forecast on June 1
The euro fixed at the lower boundary of the ascending channel. The RSI continues to rise after the rebound from the support level. The EUR/USD forecast on the 1st of June 2016 considers the upward movement above 1.1200. The main scenario: the quotations growth toward the upper boundary of the ascending channel.
