EURUSD Daily Analysis – May 8, 2017

EURUSD’s bullish movement from 1.0569 extended to as high as 1.1021. Support level is now at 1.0874, as long as this level holds, the bullish movement could be expected to continue and next target would be at 1.1050 area. On the downside, a breakdown below 1.0874 support will indicate that the bullish movement had completed at 1.1021 already, then the following downward movement could bring price back to 1.0700 area.

EURUSD chart