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).
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