12.05.202111:37 Forex Analysis & Reviews: Trading plan for EURUSD for May 12, 2021

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Technical outlook:

EURUSD has turned lower from 1.2181 highs yesterday as bears might be preparing to take control back. The pair is expected to print another intraday low to the 1.2090/95 levels before finding some support again. It would be interesting to see if EURUSD attempts to print yet another high towards 1.2210/15 levels before turning lower again.

EUR is seen to be trading lower around the 1.2130 mark at this point in time. It is expected to print at least one low before pulling back higher again. Immediate short-term resistance is at 1.2181, followed by 1.2242 and higher, while support comes in around 1.1986 levels respectively. The down trend line is still being tested on the daily chart and not yet broken.

EURUSD remains in control of bears until prices stay below 1.2350 levels. The corrective rally that had begun on March 31, 2021, from the 1.1704 levels seems to be complete or close to termination. A break below 1.2030 will confirm that bears are back in control and are here to stay for long.

Trading plan:

Remain short, stop @ 1.2350, target @ 1.1300 and lower.

Good luck!

Back to the list

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.