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12.05.202115:49 Forex Analysis & Reviews: EUR/USD analysis for May 12 2021 - Rejection of key resistance on the daily time-frame and potential for test of 1.1985

Technical analysis:

Exchange Rates 12.05.2021 analysis

EUR/USD has been trading downwards today after teh CPI m/m numbers. I see more downside potential and selling on the rallies would be preferable strategy.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside targets at 1.1985.

Stochastic is showing bearish divergence, which is another sign of weakness and potential for the downside movement.

MACD is showing bearish divergence, which is another indication for further downside...

Key resistance is set at 1.2170

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Petar Jacimovic,
Ahli analisa
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