empty
 
 
fr
Assistance
Ouverture rapide de compte
Plateforme de trading
Déposer / Retirer

14.05.202111:33 Forex Analysis & Reviews: Trading plan for EURUSD for May 14, 2021

Exchange Rates 14.05.2021 analysis

Technical outlook:

EURUSD seems to be pulling back since yesterday to carve a lower high around 1.2120/30 levels before turning lower again. Bears are inclined to remain in control until prices stay below 1.2181 in the near term. A drop below 1.2051 would confirm that lower high is in place and that bears are set to accelerate towards 1.1986 as short term target.

EURUSD is seen to be trading around 1.2113 levels at this point in writing and is expected to produce a bearish bounce, to resume lower again. Immediate resistance is seen at the recent highs 1.2181, followed by 1.2242 and higher, while support comes in around 1.1986, followed by 1.1704 levels respectively, on the daily chart.

The overall structure remains bearish until 1.2350 stays intact and bears might drag lower towards 1.1300 and 1.0636 lows in the next several weeks and months. Please note that EURUSD might be poised to drop through March 2020 lows and also towards parity levels 1.0000 as this wave unfolds lower.

Trade plan:

Remain short, stop @ 1.2350, target @ 1.1300 and 1.0636.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Oscar Ton,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.