FX.co - EUR/USD analysis for May 13 2021 - Breakout of the news spike and potential for drrop towards 1.1995

2021-05-13T11:10:09

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Technical analysis:

EUR/USD analysis for May 13 2021 - Breakout of the news spike and potential for drrop towards 1.1995

EUR/USD has been trading downside as I expected. Sellers are in control today and you should watch for selling opportunities on the rallies.

Trading recommendation:

I found the breakout of the news spike range from yesterday's CPI m/m, which is good confirmation of the downside condition.

Watch for selling opportunities on the rallies with the downside target at 1.1955.

Stochastic oscillator is showing negative reading....

Key resistance is set at the price of 1.2090

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for May 13 2021 - Breakout of the news spike and potential for drrop towards 1.1995