EURUSD Daily Analysis – May 16, 2018

EURUSD broke below 1.1822 support, suggesting that the downtrend from 1.2413 has resumed. Further decline could be expected in a couple of days, and next target would be at 1.1700 area. Resistance levels are at 1.1900 and 1.1996, only break above these levels could signal completion of the downtrend.

EURUSD 4-hour chart