We are in bullish mode on EURUSD currency pair
Here is the illustrations and snapshots for EURUSD Forecast and technical analysis May 19 2014
On the monthly chart of EURUSD pair we can see that the pair broke the red strong trend line but it failed to keep its momentum due to dovish act from Draghi. But the setup is still bullish.
On the weekly chart of EURUSD pair we can see that the market still holds the 1.3700 level. If it breaks this level it might be a trend change situation for this pair.
On the daily chart we can see that the pair still holds the strong 1.3700 support level and below this level still we have a 200EMA support level. The break of these two levels will be the start of downtrend on this popular currency pair.
On the h4 chart we can see that market is not a good shape to go for long on this pair, though we are still bullish on this pair but it will be wise to wait for couple of days to go for long on this pair.