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Daily Market Outlook
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| Daily
Market Outlook (17 May 2021) |
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| Update
Time: |
17 May 2021 23:41GMT |
| Next Update
At: |
00:30GMT |
EUR/USD - 1.2155
Euro's gain to 1.2168 (Europe) on Mon suggests pullback from last Tue's 10-week high at 1.2181 has ended last week at 1.2052 (Thur) and as long as 1.2104/07 holds, upside bias remains for recent upmove from 1.1705 (Mar low) to extend marginal gain, 'loss of upward momentum' should cap price well below daily pivotal res at 1.2242.
Below 1.2104 signals top is made, then risk would shift to the downside for stronger retracement to 1.2072, then 1.2052 later.
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