Technical Analysis EUR/USD 08 May


Today's technical analysis on May 08, the EUR / USD pair is dominated by bullish sentiment to complete consolidation in the Asian session, at strong support levels of 1.11935 - 1.11610 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 1.12135 where Fibonacci levels indicate. The MACD histogram has almost merged with its signal, as well as zero lines, and at the moment does not give clear signals. Stochastic Oscillator is in the neutral zone and forms a buy signal. In the alternative scenario, you should wait for the breakdown of the strong support level of 1.11820, then the target of investors will be the levels 1.11430 - 1.10910.

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: 1.12030

Resistance Level 1: 1.12135
Resistance Level 2: 1.12225
Resistance Level 3: 1.12330
Resistance Level 4: 1.12440

Support Level 1: 1.11935
Support Level 2: 1.11820
Support Level 3: 1.11715
Support level 4: 1.11610