EURUSD Daily Analysis – May 22, 2018

EURUSD extended its downside movement from 1.1996 to as low as 1.1716. As long as 1.1840 resistance holds, the downtrend could be expected to continue and next target would be at 1.1550 area. On the upside, a breakout of 1.1840 resistance would indicate that the downside movement had completed at 1.1716 already, then the pair would find next resistance at around 1.1900.

EURUSD 4-hour chart