EURUSD Chart – Free Space is Shrinking

by May 18, 2020EURUSD Forecast

EURUSD trading pair analysis for today shows us that the price is holding back in the space between daily trend line support and horizontal resistance line.

EURUSD Chart Friday’s Summary

Friday was a little bit messy where the price jumped up and down. Like I said it is better to stay out because of traders getting out at the end of the week.

If we see EURUSD pip range analysis we can see that the pip range is lower on the Friday. That means less traders are trading and market is calming down.

EURUSD Daily Forecast 18_05_2020

If you want to have PDF graph of the pip range analysis of EURUSD trading pair and 11 more trading pair’s you can download them for FREE.

We had bounce back to the horizontal resistance line at 1.08275 and then bounce back down to daily support trend line. From there price is holding back from making a move in any direction.

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Today’s EURUSD Chart Forecast

Because of Monday I like to stay out from the market to see what the price will do. Today we can see that the price is holding back and does not move in any direction for a larger amount of pips.

It means that the price does not have strength to be moved up or down. Small H4 candles are forming and all of them are inside 20 pips.

EURUSD have different pip range on each trading session in a day and on each day in a week.

EURUSD Chart – Bullish Scenario or Bearish Scenario

I want to see the price closing below 1.07825 if I want to get into SELL order. That will mean the price have more sellers to move the price more down. Price would go to the 1.07356 and later on to the 1.07000 level.

If the price close above 1.09028 we would see price moving higher to the 1.09371 level. Later on the price could hit the 1.09860 level. To get above range area price will need strong buying power because currently it is too far from that level.

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Frano Grgić

Frano Grgić

A Forex trader since 2009. I like to share my knowledge and I like to analyze the markets. My goal is to have a website which will be the first choice for traders and beginners. Market analysis is featured by Forex Factory next to large publications like DailyFX, Bloomberg... GetKnowTrading is becoming recognized among traders as a website with simple and effective market analysis.

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