The 4-hour chart also signals a possible correction to the downside with the hidden bearish divergence. Price action could possible post a higher low or decline below the previous lows established at 1.1848. However, in the near term, we expect to see a minor bottom being established at the current levels.
EUR/USD Daily Forecast - 14 May
The EURUSD closed on Friday on a bullish note marking a second consecutive day of gains. However, price action remains stuck near the key resistance level of 1.1959 – 1.1920 level. This could potentially trigger a modest pullback in the near term.
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