Will EURUSD rebound from the 5-month low?

May 22, 2018

Beginning of last week EURUSD had a strong consolidation and this is an indication of slowing down in selling volumes. Besides, this strong consolidation had put an end to the non-volatile downtrend in EURUSD since middle of April 2018. Thus, I'm gonna expecting more and more counter trend parties gonna join into the market and a short term counter trend trade could be considered to take place. Looking at the H4 chart, 1.1835 region is still playing an important role of resistance region, a break-through higher from here will be a significant indicators for me to consider to place a short term long position.