FX.co ★ EUR/USD technical overview for May 17, 2011

At the moment the euro is demonstrating correction movement to the upside within the local downside movement. Technically, only oscillators give signals now. In a daily graph the Stochastic oscillator signals about overbought price. At the same time, the MACD is showing divergence with the price graph, which gives a slight sell signal. The signal of possible weak growth is indicated by the Moving Average of Oscillator (OsMA). The next level is located at the closest limit of the local price channel at 1.4125 and the Alligator.