21.05.201906:47 Forex Analysis & Reviews: Forecast for EUR/USD on May 21, 2019

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EUR/USD

On Monday, the euro slightly wavered on supporting the Fibonacci level 110.0% of the movement branch from September 24 to November 12 of the previous year. The delay made it possible for the marlin oscillators on the daily and H4 charts to discharge even more, in order to continue the decline with new forces. Yesterday, data showed that the balance of payments in the eurozone showed a deterioration from 27.9 billion euros to 24.7 billion in March, today home sales in the secondary real estate market in the US are expected to increase from 5.21 million to 5.35 million in April.

We expect the euro to further decrease. After overcoming the support of 1.1155, a target of 1.1075 will open - the Fibonacci level is 123.6%.

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