Dear traders,
We are watching over the upside trend development from May 26 and do not hurry to determine mid term targets for the upward movement.
Forecast for May 28:
We are watching over the upside trend development from May 26 and do not hurry to determine mid term targets for the upward movement.
Today important levels for the EUR/USD pair are: 1.2558, 1.2492, 1.2459, 1.2405, 1.2191, 1.2144, 1.2065, 1.2032 1.1875. Here we are watching over the upside structure from May 26. We should wait for the movement continuation to the upside after breaking through the level of 1.2405, in this case 1.2459, in the channel 1.2459 – 1.2492 – the price consolidation. A potential value for the uptrend comes the level of 1.2558, after breaking through 1.2492. The range 1.2191 – 1.2144 is a key support for the uptrend, its passover by a price will allow relying on the downward trend development in H1 scale, here as the first target appears to be 1.2065. Later the levels for the downward movement remained unchanged.
Trading recommendations:
Buy: 1.2405 Take profit: 1.2459
Sell: 1.2493 Take profit: 1.2558
Sell: 1.2144 Take profit: 1.2065