Technical Analysis EUR/USD 07 May


Today's technical analysis on May 07, the EUR / USD pair is dominated by bullish sentiment to complete consolidation in the Asian session, at strong support levels of 1.11955 - 1.11645 therefore it is desirable to wait for the breakdown of a strong resistance level, which can open the way to the levels of 1.12460 - 1.12980 within London and New York Sessions.

Thus, the best placement opportunities for transactions can be initiated before or during the London session from 1.12175 where Fibonacci levels indicate. The MACD histogram crossed the zero line from the bottom up, is now located in the positive zone and above its signal line, continues to increase very smoothly and thereby gives a buy signal. Stochastic Oscillator is in the overbought zone and generates a similar signal. In the alternative scenario, you should wait for the breakdown of the strong support level of 1.11850, then the target of investors will be the levels 1.11460 - 1.10930.

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: 1.12050

Resistance Level 1: 1.12175
Resistance Level 2: 1.12280
Resistance Level 3: 1.12375
Resistance Level 4: 1.12490

Support Level 1: 1.11955
Support Level 2: 1.11850
Support Level 3: 1.11745
Support level 4: 1.11645