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13.05.202100:02 Forex Analysis & Reviews: May 12, 2021 : EUR/USD daily technical review and trade recommendations.

Exchange Rates 13.05.2021 analysis

By the end of February, Near the price level of 1.2250, Significant SELLING Pressure was found. Since then, the current downtrend has been initiated.

Shortly after, the price zone around (1.1990) provided some temporary buying pressure.

However, this recent short-term upside movement was terminated due to lack of sufficient buying momentum.

Another downside movement was expressed towards 1.1840. Breakdown below it triggered another downside movement towards 1.1780-1.1750 where significant BUYING Pressure emerged.

Hence, an upside pullback was expected to pursue towards 1.1840 & 1.1990. Both levels failed to provide sufficient bearish pressure.

More upside movement was expected to pursue towards 1.2175 (backside of the broken trendline) where significant bearish price action was demonstrated.

Currently, the ongoing downside movement towards 1.2070 should be considered. Further downside movement is projected towards 1.1990.

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

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