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27.05.202216:26 Forex Analysis & Reviews: Technical analysis of EUR/USD for May 27, 2022

Exchange Rates 27.05.2022 analysis

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.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Mourad El Keddani,
Analytical expert of InstaForex
© 2007-2022
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