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Short

EURUSD: Weekly Forecast 20th - 24th May

FX:EURUSD   Euro / U.S. Dollar
Just like the dollar, and since EURUSD has been moving in harmony with the dollar this week, EURUSD has clearly turned bearish after breaking below the key level of 1.1173 after the break below a rising trendline .
And all indicators such as MACD , moving averages and Bollinger band has pointed toward a bearish trend in the week to come.
Therefore in this week, we are setting a bearish tone for the EURUSD and expecting the price to fall further and test the previous low or break new low.
Should the price retrace at first, we will look for sell opportunity at the supply one right above 1.1200.
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