Technical Analysis EUR/USD 02 May

2019-05-02

Today's technical analysis on May 02, the EUR / USD pair is dominated by bearish sentiment to complete consolidation in the Asian session, at strong resistance levels of 1.12155 - 1.12470 therefore it is desirable to wait for the breakdown of a strong support level, which can open the way to the levels 1.11655 - 1.11130 during London and New York Sessions.

Thus, the best placement opportunities for transactions can be initiated before or during the London session from 1.11950 where Fibonacci levels indicate. The MACD histogram is still located in the positive zone and below its signal line, continues to gradually decrease and thereby gives a signal to sell. Stochastic Oscillator went to the oversold zone and forms a similar signal. In the alternative scenario, you should wait for the breakdown of the strong resistance level of 1.12260, then the target of investors will be the levels of 1.12660 - 1.13120.

In essence, today's expected important economic news in particular can lead to significant volatility of key pairs, which can stimulate a significant movement to fluctuations during the London and New York sessions. This enables investors to take advantage of Buy / Sell transactions from minimum / maximum levels throughout the day.

Analysis of EUR / USD

Price at the moment: 1.12050

Resistance Level 1: 1.12155
Resistance Level 2: 1.12260
Resistance Level 3: 1.12365
Resistance Level 4: 1.12470

Support Level 1: 1.11950
Support Level 2: 1.11845
Support Level 3: 1.11745
Support level 4: 1.11640