Technical Analysis EUR/USD 06 May


Today's technical analysis on May 6, the EUR / USD pair is dominated by bullish sentiment to complete consolidation in the Asian session, at strong support levels of 1.11815 - 1.11505 therefore it is desirable to wait for the breakdown of a strong resistance level, which can open the way to levels of 1.12360 - 1.12880 in London and New York Sessions.

Thus, the best placement opportunities for transactions can be initiated before or during the London session from 1.12015 where Fibonacci levels indicate. The MACD histogram is still located in the negative zone, but already slightly above its signal line, continues to increase very smoothly and thus gives a buy signal. Stochastic Oscillator went to the overbought zone and forms a similar signal. In the alternative scenario, you should wait for the breakdown of the strong support level of 1.11715, then the target of investors will be the levels 1.11330 - 1.10840.

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 EUR / USD

Price at the moment: 1.11910

Resistance Level 1: 1.12015
Resistance Level 2: 1.12120
Resistance Level 3: 1.12225
Resistance Level 4: 1.12330

Support Level 1: 1.11815
Support Level 2: 1.11715
Support Level 3: 1.11610
Support level 4: 1.11505