Technical analysis of EUR/USD for 16.05.2019

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Only a sustained and impulsive breakout through the technical resistance zone located between the levels of 1.1264 - 1.1273 would change the outlook from bearish to bullish, so after the failed rally attempt, the EUR/USD market moved down towards the technical support at the middle of the range at 1.1173. The price bounced a little but overall the market remains directionless at it awaits a breakout in either direction.

Technical analysis of EUR/USD for 13.05.2019

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The EUR/USD pair has bounced from the level of 1.1173 and is slowly moving higher towards the technical resistance located at the level of 1.1264. The move up is not impulsive, but it is still corrective in nature, so it is not the beginning of an uptrend, but the continuation of the previous cycle. Only a sustained and impulsive breakout through the technical resistance zone located between the levels of 1.1264 - 1.1273 would change the outlook from bearish to bullish.

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