EUR/USD Price Forecast – Euro Trying to Stabilize

The Euro has shown a bit of hesitation during the trading session on Thursday as the market has perhaps gotten a bit ahead of itself. Nonetheless, I think we are going to go looking towards the 1.23 handle given enough time, but a little bit of a pullback may be in the cards. The market is a little bit stretched, but I think there is plenty of support near the 1.21 handle, and of course the 50 day EMA.

EUR/USD Video 28.05.21

This is all about the US dollar for the most part, and of course the fact that the economic numbers have been a bit better coming out of the EU as of late. Nonetheless, this is a pair that tends to be very noisy and does not like making big moves for the most part, so I think this is more or less going to be a grind back and forth with a proclivity to go higher more than anything else. Because of this, I like the idea of taking advantage of dips as a potential buying opportunity unless of course we break down below the 1.20 handle, which is what I look at as the “floor in the market” currently. If we were to break down below there, then we would probably see a move down towards the 200 day EMA.

In general, I think that the 1.23 level above is a major barrier that is going to take a lot of effort to get beyond this year, but eventually we will probably go looking towards the 1.25 handle which is my end of your target. This is a pair that is going to grind regardless of what happens next.

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