Technical Analysis EUR/USD 03 May


Today's technical analysis on May 3, the EUR / USD pair is dominated by bearish moods to complete consolidation in the Asian session, at strong resistance levels of 1.11835 - 1.12150 therefore it is desirable to wait for the breakdown of a strong support level, which can open the way to the levels of 1.11230 - 1.10790 within London and New York Sessions.

Thus, the best placement opportunities for transactions can be initiated before or during the London session from 1.11630 where Fibonacci levels indicate. The MACD histogram crossed the zero line from top to bottom, is now located in the negative zone and below its signal line, continues to gradually decline and thereby gives a signal to sell. Stochastic Oscillator is in the oversold zone and generates a similar signal. In the alternative scenario, one should wait for the breakdown of the strong resistance level of 1.11940, then the target of investors will be the levels 1.12275 - 1.12875.

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: 1.11730

Resistance Level 1: 1.11835
Resistance Level 2: 1.11940
Resistance Level 3: 1.12045
Resistance Level 4: 1.12150

Support Level 1: 1.11630
Support Level 2: 1.11525
Support Level 3: 1.11425
Support level 4: 1.11320