10.05.202314:26 Forex Analysis & Reviews: Technical analysis on EURUSD for May 10th, 2023.

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Red lines- bearish divergence

Blue lines- bullish channel

EURUSD is trading around 1.0950. Price is now challenging last week's lows which are key support. Price remains inside the blue upward sloping channel with boundary support found at 1.0875. A break below last week's lows around 1.0942 would be a sign of weakness. As we explained in our previous posts, EURUSD despite trading inside the bullish channel, has also been giving us some warning trend reversal signals. Price remains vulnerable to a move lower towards channel support. We remain bearish EURUSD,.expecting a decline towards 1.08.

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