EUR trapped around decline versus USD
5/19/2017 2:48:46 PM
The bulls are seen preserving 1.1105 handle up to now, with new decline behind the USD keeping the bid tone complete in EUR/USD.
The spot tries to take-out 1.1117 persistence, as higher treasury yields among risk reset carry on to keep a check on upside.
The EUR is high at 1.1174 has not been established by the daily RSI and when we join this , we unsure that we will see a near term dip lower, which is predictable to hold over the near term upward tendency at 1.0923.
Outside this the market has possible to reach the 1.1307 November 2016 high and highs from mid-2016 approximately 1.1405, though we believe it will struggle here form a longer term viewpoint. Immediate persistence is the 1.1225.5% retracement of the entire move down from the 2014 peak at 1.3997.
FOREX market analysis by FxErvin.