The uncertainty about the future Fed policy is putting pressure on the US dollar, but investors do not rush to buy the European currency just before the referendum in the UK dedicated to the issue of quitting the EU. The additional pressure on the European currency was caused by the ECB chairman Mario Draghia statement. The market got an additional signal in favor of the future ECB determination.
EUR/USD technical analysis and forecast for 06/13/2016 – 06/17/2016 week
The euro showed a predicted growth toward the area of 1.14 by last week’s review, but the upward momentum to develop the “bulls” failed. The RSI on the daily chart moves to the resistance level, indicating a resumption of the upward movement. The EUR / USD pair forecast for the week considers the motion above the level of 1.14. Correction toward the rising channel’s lower border was completed, the main objective is in the maximums of the year.
