Main Quotes Calendar Forum
flag

FX.co ★ Technical analysis on EURUSD for May 19th, 2023.

parent
Forex Analysis:::2023-05-19T13:54:33

Technical analysis on EURUSD for May 19th, 2023.

Technical analysis on EURUSD for May 19th, 2023.

Red lines- bearish channel

EURUSD remains in a bearish short-term trend as price continues making lower lows and lower highs. The latest lower low also provided a new low in the RSI in the 4 hour chart, suggesting that more downside should be expected. Price is currently bouncing but remains below the upper channel boundary. The upper channel boundary provides resistance at 1.0845. Support by the lower channel boundary is found at 1.0720. As long as price trades inside the red channel, we remain short-term bearish.

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...