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29 May 2018

EUR/USD Technical Analysis: reaches a new 2018 low, currently consolidating the strong bear breakout

  • EUR/USD bear trend reaches a new 2018 low at 1.1510 on Tuesday.
  • EUR/USD tested an important swing low at 1.1553 established on November 7, 2017.
  • EUR/USD currently consolidating the strong bear breakout, 1.1600 figure should provide resistance in the near-term.
  • The weekly 100-period and 200-period simple moving averages (SMA) are respectively located at 1.1411 and at 1.1432, can become the next targets in the coming days if the bear trend extends further.

EUR/USD 15-minute chart

Spot rate:                   1.1570
Relative change:       -0.46%     
High:                           1.1640
Low:                            1.1510

Trend:                         Bearish

Support 1:                 1.1510 current Tuesday’s low
Support 2:                 1.1400-1.1430 area, psychological figure, weekly 100 and 200-period SMA 
Support 3:                 1.1312 July 5, 2017 low

Resistance 1:           1.1600 psychological figure and near Monday’s low
Resistance 2:           1.1650 May 25 low
Resistance 3:           1.1700 psychological figure
 

May 29, 2018

BOC: Rates likely to remain unchanged – Nomura

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May 29, 2018

TRY: New monetary policy framework – Nordea Markets

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