Technical analysis of EUR / USD 05/19/2021

The EUR / USD currency pair has broken through the resistance of 1.2170 and is currently trading in the area of ​​1.2220 on the daily timeframe. The currency pair continues to develop an upward movement. The projection shows the pair’s growth target to the level of 1.2440.
However, the annual high of 1.2345 may turn out to be a strong resistance where a temporary downward correction is possible.
Cancellation of the growth development option within the current trend will be a decline below the level of 1.2040 (MA100) and an uptrend line on the daily chart.

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