EURUSD pair traded into structural resistance Wednesday 17th of May 2017. Our view is now neutral. However it is worth noting that should resistance level at 1.12676 be taken out by price on a daily close basis, we believe it will be strong grounds to expose 1.14602 level trading inside resistance box shown. Above 1.14602 area will signal the beginning of the end of the down-trend that started way back on the 9th of May 2011.
On the downside, we are looking out for a price breach below 1.08434 to signal price fall extension to 1.05620 level. Before then, we see 1.10081/1.09282 as strong support zone for any retracements from current levels
On the downside, we are looking out for a price breach below 1.08434 to signal price fall extension to 1.05620 level. Before then, we see 1.10081/1.09282 as strong support zone for any retracements from current levels