EURUSD analysis

12.05.2021

Technical reviews

The EUR / USD pair shows more attempts to breach the 1.2170 level, but it finds it difficult to confirm the breach, to show some temporary bearish tendency now, affected by the negativity of the stochastic indicator, waiting for the resumption of positive trading to open the way to head towards our next main target, which reaches 1.2300.

On the other hand, we should note that a break of 1.2135 will pressure the price to achieve a further decline and test areas of 1.2064 before determining the fate of the next trend more precisely.

The expected trading range for today is between 1.2064 support and 1.2230 resistance

The expected general trend for today: Bullish

Author: GC
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