A-FX Forex Daily analysis 21.05.2019

EUR/USD: Technical Forecast: Bearish

After consolidation in Monday, EUR/USD decline today during Asia Session and this gives us a signal that we can see some bullish move later in the week. We still expect to see a continuation bearish trend, but today we will trade more careful if we sell. From the fundamental side, we still think the problem with Austria parliament and division in Europe politic can help EUR/USD to decline. Our important levels are:

  • Expect Bearish move from Resistance Zone 1 -> 1.11643
  • Expect Bearish move from Resistance Zone 2 -> 1.12091
  • Expect Bearish move from Resistance Zone 3 -> 1.12388

GBP/USD: Technical Forecast: Bearish

At the beginning of the week GBP/USD consolidate in a tight range and today we can expect aggressive move. From the technical side, we don’t saw any retracement and for that reason, we can expect bullish move at the beginning of the week before continuation bearish move. Today we saw a new decline at Asia trading session and this like in EUR/USD can give us a signal for Bullish retracement. The problem with Brexit remain. Today we have important news for GBP – Inflation Report Hearings For that reason our important levels will be:

  • Expect Bearish move from Resistance zone 1 – 1.27264
  • Expect Bearish move from Resistance zone 2 – 1.30084
  • Expect Bearish move from Resistance zone 3 – 1.31040