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EURUSD – technical overview
Despite the latest round of setbacks, the Euro remains confined to a medium term uptrend, with any additional weakness expected to be limited. Daily studies are looking to turn back up from oversold readings, while any recovery will also open the door for the possibility of that next meaningful higher low ahead of a bullish continuation. A daily close back above 1.2000 will however be required to encourage this prospect. Setbacks are expected to be well supported ahead of 1.1600
R1 1.1855 – 15May high – Medium•
R2 1.1997 – 14May high – Strong•
S1 1.1717 – 21May/2018 low – Medium•
S2 1.1700 – Figure – Medium
Good luck...!!!!
Despite the latest round of setbacks, the Euro remains confined to a medium term uptrend, with any additional weakness expected to be limited. Daily studies are looking to turn back up from oversold readings, while any recovery will also open the door for the possibility of that next meaningful higher low ahead of a bullish continuation. A daily close back above 1.2000 will however be required to encourage this prospect. Setbacks are expected to be well supported ahead of 1.1600
R1 1.1855 – 15May high – Medium•
R2 1.1997 – 14May high – Strong•
S1 1.1717 – 21May/2018 low – Medium•
S2 1.1700 – Figure – Medium
Good luck...!!!!
