For Traders

Analytical Reviews

Technical analysis

28.05.202005:13 Forex Analysis & Reviews: Forecast for EUR/USD on May 28, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD

The euro continued to grow due to information about the proposal of the European Commission a package of economic assistance worth 1.85 trillion. Euro (Next Generation EU) as part of the planned EU budget. Such news is enough for the euro to go another way.

This path can correspond to the target of 1.1140 along the embedded line of the price channel on the daily chart. The price has overcome the upper limit of the two-month range of 1.0767-1.0995 and is ready to follow above.

The price has already consolidated above the upper limit of the range on the four-hour chart, the price is above both indicator lines and the Marlin oscillator is growing in the zone of positive indicator values.

Possible purchases of EUR/USD from current levels with a signal on a five-minute timeframe, take profit below 1.1140, stop loss below 1.0995.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.