empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

17.05.201801:44 Forex Analysis & Reviews: Technical analysis and trading recommendations for the EURUSD currency pair as of May 16, 2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

"Bears" do not stand still, and the recent correction gave them strength. The local lows of May 9 (1.1821) had declined and the quotation moved gradually but was firmly fixed below. Oversoldness can be felt generally, but at the end of the movement, the pair may lack sufficient point of support although "bullish" positions occasionally slip. It is possible to assume that in case of fixing the price below 1.1790, a downward movement will even move lower to the band level of 1.1700 / 1.1650, where the "bulls" will have an opportunity to breakdown in order to change the current mood.

At the same time, it cannot be ruled out that the bulls will come to their senses and will not let the bears fall below 1.1790, thereby showing the stagnation result in the framework of 1.1790 / 1.1850.

Exchange Rates 17.05.2018 analysis

* The presented market analysis is informative and does not constitute a guide to the transaction.

Gven Podolsky
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off