Forex Analysis & Reviews: Forecast for EUR/USD on June 1, 2021

EUR/USD
On Monday, the euro strengthened in a trading range of May 19-27 in the thin market, still creating a technical risk for growth to the target levels of 1.2272 and 1.2310 (peaks on December 17 and 31, 2020). A decline from yesterday's opening removes such a risk and will set the euro to exit the range down.

This moment looks more detailed on the four-hour scale: consolidating under the MACD line (1.2220) with a departure under 1.2200 creates a signal for movement towards the MACD line on the daily chart, in the area of 1.2068.

Analysis are provided by InstaForex