EURUSD - Trading signal by World-Signals.com is to open long positions. We expect to see EURUSD at levels close to 1.2200 in a couple of hours or latest tomorrow.

EURUSD currently hit the highest level of 1.2266. This is the record high level for the last 5-months. The highest trading level of EURUSD in 2021 is 1.2349. The big questions is the potential of Euro to hit 1.2349 and the levels above this key resistance. Since the beginning of April 2021 EURUSD is in upward trend. In the last week of May is expected to show key news for U.S. Durable Goods report on Thursday and Initial Claims to confirm that the jobs market recovery is very slow. World-Signals.com trading strategy this week is to use short positions with target at 1.2210. If it breaks below 1.2210 we can see levels of 1.2165. The move above 1.2266 is sure to happen but the move may stop at 1.2290/1.2300. The level of 1.2349 may not hit this month. So use the current levels to trade into both directions and if you use long positions try to open at 1.2170 up to 1.2210 and expect target 1.2260.

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The EURUSD trading found a good support line at 1.2055. Although EURUSD trading is possible down correction to 1.2038 where is the next support level the trend into upward direction starts again. The most important coming events that will take effect over the trading crosses are Fed Interest Rate Decision, Fed's Monetary Policy Statement and FOMC Press Conference. The policy trading probably will remain unchanged with focus over the stimulus of the economy. Tomorrow the most important events are Germany unemployment and the Harmonized Index of Consumer Prices. Do not forget that much more important is Gross Domestic Product Annualized for Q1 on Thursday 12:30 GMT where the consensus is for 6.5% growth compared to 4.3% in the prior period. On Friday GDP date will be released for Germany and the Euro Zone too. World-Signals.com trading strategy is to use these two key support levels of 1.2038 and 1.2055 as stops and open long positions with targets above 1.2130 in the next two days or target 1.2150 in the next couple of days.