The European currency keeps its reduction. Today investors continued to buy dollars waiting for the FOMC meeting on the 15th of June. The market participants have to pay attention to the Janet Yellen’s speech, which will take place on the 27th of May and on the 6th of June. The chairman of the Federal Reserve System may make clear if the base rate raise would be on the agenda at the meeting in June.
EUR/USD technical analysis and forecast on May 25
The euro rate showed declination without the expected consolidation, the EUR/USD pair has renewed the local minimums. The КЫШ on the four hour chart is close to the support level, which may limit the dollar strengthening. The EUR/USD forecast for 25 May 2016 considers the continuation of the European currency decrease toward the lower border of the ascending channel, but there is an opportunity, that the “bears” will have a break.
