EURUSD Weekly Technical Analysis (18-22 May,2015) | May 16, 2015

Eurusd was continuing its bullish rally last week. It made new high at the end of the week. So it is now full of bullish power. But now this pair is staying is very important resistance area. This level is good sell zone for eurusd. On h4 time frame we can see bearish divergence which indicating selling idea in this pair. So we can wait for sell opportunity in this pair for long term. But close above 1.1537 area, this pair can continue its bullish rally upto 1.2000 area. We will recommend to stay on bearish side below 1.1537 level and after break this resistance, we can go for buy.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.1684

Resistance One (R1): 1.1566

Pivot Point: 1.1348

Support One (S1): 1.123

Support Two (S2): 1.1012