15 May EURUSD Intraday Technical Forecast


EURUSD stayed in range on Tuesday after mixed results from the ZEW survey for the month of May. How is the pair trading now? Get updated in this 15 May EURUSD Intraday Technical Forecast.

15 May, OctaFX – The euro has remained weak against the US dollar during the European trading session, with sellers moving the pair to a new weekly trading-low, at 1.1909. Dip-buying in the EURUSD pair has so far remained quite muted, with price only managing a shallow bounce towards the 1.1937 level before sellers moved in again. Traders now look for further losses below the 1.1900 level, and the release of key monthly Retail Sales numbers from the US economy.

15 May EURUSD Intraday Technical Forecast

  • The EURUSD pair is intraday bearish while trading below the 1.1938 level, further downside towards 1.1900 and 1.1852 remains likely.
  • If the EURUSD pair moves above the 1.1938 resistance level, buyers may be encouraged to test towards the 1.1967 and 1.1996 levels.

Disclaimer

This article about 15 May EURUSD Intraday Technical Forecast was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

    Share Your Opinion, Write a Comment