FX.co - EUR/USD analysis for May 17 2021 - Massive resistance at 1.2170 and potential for sellers with target at 1.2080

2021-05-17T11:52:00

Relevance until2021-05-18

Technical analysis:

EUR/USD analysis for May 17 2021 - Massive resistance at 1.2170 and potential for sellers with target at 1.2080

EUR/USD has been trading upwards this morning but on the low volume, which is sign of weak buying and potential for the sellers.

Trading recommendation:

Watch for potential selling opportunities with the downside targets at 1.2133, 1.2110 and 1.2080.

Massive resistance at the price of 1.2170 and good zone for sellers to join...

Stochastic oscillator is showing overbought condition and the potential for the downside rotation.

*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 17 2021 - Massive resistance at 1.2170 and potential for sellers with target at 1.2080