DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 15 May 2019 00:20GMT

Trend Daily Chart
Sideways

Daily Indicators
Turning up

21 HR EMA
1.1215

55 HR EMA
1.1233

Trend Hourly Chart
Near term down

Hourly Indicators
Getting o/s

13 HR RSI
33

14 HR DMI
-v3

Daily Analysis
Consolidation with downside bias

Resistance
1.1304 - Apr 18 high
1.1265 - Mon's n May 01 high
1.1246 - Y'day's high (Reuters)

Support
1.1167 - Last Tue's low
1.1135 - May's low (May 03)
1.1112 - Apr 26 low

. EUR/USD - 1.1203.. Although euro recovered fm 1.1221 (AUS) to session highs of 1.1246 (Reuters) in Europe, price erased its gains n tumbled to 1.1204 1.1204 at NY open, then 1.1201 on usd's strength n Italy's budget concerns.

. On the bigger picture, despite euro's resumption of LT rise fm 2017 near 14-year bottom of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb, subsequent selloff to 1.1216 in Nov 2018, then to a 20-month bottom at 1.1177 in early March confirms said major uptrend has made a top there. Despite subsequent rally to 1.1448 in Mar, euro's fall to 1.1184, then early break of 1.1177 to 1.1112 Apr confirms MT fall fm 1.2555 has resumed n would head to 1.1054 (61.8% proj. of 1.1815-1.1177 measured fm 1.1448), 'bullish convergences' on daily indicators would keep price abv psychological 1.1000 level. On the upside, only abv 1.1265 signals temporary low is made n risks retracement to 1.1325, then 1.1448.

. Today, although euro's selloff after Mon's failure to break May's 1.1265 top signals near term rise fm 1.1135 has made a temp. top there n downside bias remains, as hourly oscillators would be in o/sold territory, reckon 1.1161/67 sup area would hold. Only abv 1.1265 extends early rise fm 1.1112 to 1.1190/00.

EURUSD

 

Interested in EURUSD technicals? Check out the key levels

    1. R3 1.1278
    2. R2 1.1262
    3. R1 1.1234
  1. PP 1.1217
    1. S1 1.1189
    2. S2 1.1173
    3. S3 1.1145

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