EURUSD Forex Analysis for May 27th 2019
Trend is up in EURUSD fifteen minutes chart. Key support level is present at 1.1195 price area, based on most recent swing low in 15 minutes time frame of EURUSD. EURUSD show strong bullish move in the previous session and it remains stable above 1.1195. Thus, no change to the up trend environment as price action stays above 1.1195 support area, while its next main target located at 1.1200 price level which is a round number.
Based on technical and fundamental analysis, price of EURUSD is most likely going to rise more and currency traders should consider taking a possible buy trading chance to join an up trend. There was no major news announcement for the Euro on Friday. However; a clear bearish break down in price action below 1.1195 critical support area will end the up trend. In such a market scenario, it would be best not to trade EURUSD and re-analyze the 15 minutes chart price action.
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