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Monday, May 23, 2016

EUR/USD and GBP/USD Forecast May 23, 2016

Published on 21 May 2016
The EUR/USD pair tried to rally during the day on Friday, but struggled a little bit to hang onto the gains for the day. If we can break above the top of the range for Friday, is very likely that we could continue to bounce around in this consolidation area, and with this being the case it’s likely that the market will try to reach towards the 1.13 level, and then eventually the 1.14 level as well. I think that it will remain very volatile, mainly because the Federal Reserve interest-rate outlook is a bit murkier than we had originally seen. Because of this, a lot of people will be betting for and against interest-rate hikes, and the EUR/USD pair is an excellent way to play that particular outlook.

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