Level Technical Significance

1.1378 Daily High May 7

1.1336 Daily High May 8

1.1293 Daily High May 9

1.1265 Daily High May 14

1.1218 ==Update Price==

1.1165 Daily Low May 14

1.1089 Daily Low May 13

1.1019 38.2% Fibo 1.0125-1.1572

1.1000 Psychological Level

Strategy Open Position

Current Position Short @1.1195

Target: 1.0915 Stop: 1.1305

Open/Close 14-May-25

EUR/USD left a large upside shadow on Wednesday's candlestick and that hints at a rejection of the upside. While Wednesday's 1.1265 (EBS) high remains intact, the scope persists for a drop to the 1.1019 Fibo, a 38.2% retrace of 1.0125 to 1.1572 2025 (EBS) rise, a break and daily close below which would lead to a much deeper fall. Fourteen-day momentum remains quite negative. Previous

Daily Chart:

(Martin Miller is a Reuters market analyst. The views expressed are his own)