EUR/USD Forecast June 1-5

EUR/USD extended its slide for another week as the dollar surged but gradually recovered The ECB rate decision is the key event alongside PMIs  Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.

Yet again, optimism and despair around Greece had their impact on the common currency. The upcoming deadline of June 5th might be more serious than the previous ones. The euro did manage to gain back some ground on the back of more upbeat euro-zone data, mostly from Germany and Spain. In the US, good data helped the local currency. The greenback seemed to enjoy every small economic beat while mostly ignoring misses on economic indicators.

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