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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Forecast for EUR/USD on May 28, 2020

EUR/USD

The euro continued to grow due to information about the proposal of the European Commission a package of economic assistance worth 1.85 trillion. Euro (Next Generation EU) as part of the planned EU budget. Such news is enough for the euro to go another way.

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This path can correspond to the target of 1.1140 along the embedded line of the price channel on the daily chart. The price has overcome the upper limit of the two-month range of 1.0767-1.0995 and is ready to follow above.

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The price has already consolidated above the upper limit of the range on the four-hour chart, the price is above both indicator lines and the Marlin oscillator is growing in the zone of positive indicator values.

Possible purchases of EUR/USD from current levels with a signal on a five-minute timeframe, take profit below 1.1140, stop loss below 1.0995.

The material has been provided by InstaForex Company - www.instaforex.com