EURUSD Technical Analysis: EURUSD Bulls continue


The 3 weeks downtrend of EURUSD might have come to an end. The analysts at Swissquote shared in today’s 14 May EURUSD Technical analysis confirmed this and noticed that the bullish pattern will continue.

14 May, Swissquote EURUSD bullish pattern continues, bouncing off from 1.1826 (09/05/2018 low) and heading along the 1.1975 range. The pair is currently trading at mid-January 2018 levels. Hourly support and resistance are located at 1.1812 (25/12/2017 low) and 1.2323 (17/01/2018 high). The technical structure suggests short-term upward moves. 

In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low). 

Disclaimer

This article 14 May EURUSD Technical Analysis was written by analysts at Swissquote. While every effort has been made to ensure that the data quoted and used for the research behind this document is reliable, there is no guarantee that it is correct, and Swissquote Bank and its subsidiaries can accept no liability whatsoever in respect of any errors or omissions, or regarding the accuracy, completeness or reliability of the information contained herein.

This document does not constitute a recommendation to sell and/or buy any financial products and is not to be considered as a solicitation and/or an offer to enter into any transaction. This document is a piece of economic research and is not intended to constitute investment advice, nor to solicit dealing in securities or any other kind of investments.

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