empty
 
 
27.05.2022 04:26 PM
Technical analysis of EUR/USD for May 27, 2022

This image is no longer relevant

Overview :

The EUR/USD pair has faced strong support at the levels of 1.0679 because resistance had become support on May 27, 2022.

However, the strong resistance has been already formed at the level of 1.0765 and the pair is likely to try to approach it in order to test it again.

If the pair fails to pass through the level of 1.0765 , the market will indicate a bullish opportunity above the new strong resistance level of 1.0765 (the level of 1.0765 coincides with a ratio of 100% Fibonacci).

Moreover, the RSI starts signaling an upward trend, as the trend is still showing strength above the moving average (100) and (50).

Thus, the market is indicating a bullish opportunity above the level of 1.0765 for that it will be good to buy at 1.0765 with the first target of 1.0810.

It will also call for an uptrend in order to continue towards 1.0850. The daily strong resistance is seen at 1.0850.

On the other hand, the stop loss should always be taken into account, for that it will be reasonable to set your stop loss at the level of 1.0625.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback