Friday, May 18th
Last update:10:09:26 AM GMT
EUR
Current level - 1.2866
Although the overall bias continues to be negative, there is a minor reversal at 1.2814 and the intraday outlook is positive above 1.2837 for the key resistance at 1.2910. My outlook is countertrend, for a break through 1.2910, en route to 1.3060-3100.
Current level - 1.3150
The downtrend from 1.3284 has bottomed at 1.3096, but I don't think, that the bearish pressure is completely lost, so expect an intraday swing below 1.3205 resistance area, followed by another sell-off towards 1.30+ support area.
Current level - 1.3224
I think, that yesterday's high at 1.3283 was the peak of the prolonged rise from 1.2996 and my outlook is already bearish, for a break through 1.3204, en route to 1.3070. Initial intraday resistance is projected at 1.3245.
EUR/USD: Overall, the market remains locked in a very tight directionless, choppy consolidation.
Current level - 1.3231
The upmove here is absolutely intact, aiming at 1.3300 dynamic resistance, and I favor a reversal around the mentioned area to initiate a slide towards 1.30+ support zone. Crucial for the current rise is 1.3215 support.
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