EURUSD Daily Analysis – May 16, 2017

EURUSD is facing 1.1021 resistance. A break of this level will indicate that the uptrend from 1.0569 has resumed, then next target would be at 1.1100 area. On the downside, as long as 1.1021 resistance holds, the rise from 1.0839 would possibly be correction of the downtrend from 1.1021, another fall towards 1.0700 is still possible after the correction.

EURUSD chart