Main Quotes Calendar Forum
flag

FX.co ★ Technical analysis of EUR/USD for May 14, 2018

parent
Forex Analysis:::2018-05-14T01:16:11

Technical analysis of EUR/USD for May 14, 2018

Technical analysis of EUR/USD for May 14, 2018

Overview:

The EUR/USD pair opened below the weekly pivot of 1.1964. It continued to move downwards from the level of 1.1964 to the bottom around 1.1912. Today, the first resistance level is seen at 1.1964 followed by 1.2016, while daily support 1 is seen at 1.1912. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 1.1912. So, it will be good to sell at 1.1912 with the first target of 1.1839. It will also call for a downtrend in order to continue towards 1.1782. The strong daily support is seen at the 1.1782 level. According to the previous events, we expect the EUR/USD pair to trade between 1.1912 and 1.1782 in the coming hours. The price area of 0.6632 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 1.1964 is not broken. On the other hand, in case a reversal takes place and the EUR/USD pair breaks through the resistance level of 1.1964, then a stop loss should be placed at 1.2081.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...