The EURUSD pair has formed a local upward reversal after bouncing off the daily support level at 1.1065, with further growth possible. Discover more in our analysis for 19 May 2025.
EURUSD forecast: key trading points
- Market focus: today, the market awaits eurozone inflation data for April, with the Consumer Price Index (CPI) scheduled for release
- Current trend: upward movement is in progress
- EURUSD forecast for 19 May 2025: 1.1130 and 1.1265
Fundamental analysis
Investor attention is currently drawn to the UK-EU summit in London, where both sides aim to improve relations after years of tension following the 2016 Brexit vote. Constructive agreements may be reached.
As for the economic data, the market awaits April inflation statistics for the eurozone. The CPI is expected to rise by 0.6% month-on-month and by 2.2% year-on-year. Higher-than-expected inflation would push the pair higher, while weaker figures could trigger a downward reversal.
EURUSD technical analysis
On the H4 chart, the EURUSD pair is showing a bullish impulse, rising above the 1.1200 level. The Alligator indicator is turning upwards, confirming the momentum. The key support level for continued growth now stands at 1.1065.
The short-term EURUSD price forecast suggests that if bulls hold above 1.1200, the price could climb to 1.1265 in the near term. However, if bears push the price below 1.1200, a correction towards the 1.1130 support level may follow.
Summary
The EURUSD pair reversed to the upside, finding buyer support at 1.1065. Today, the market focus remains on eurozone inflation data.
Source: Roboforex
