Technical Analysis EUR/USD 20 May


Today's technical analysis on May 20, the EUR / USD pair is dominated by bullish sentiment to complete consolidation in the Asian session, at strong support levels of 1.11435 - 1.11120 therefore it is desirable to wait for the breakdown of a strong resistance level, which can open the way to levels of 1.11920 - 1.12420 within London New York Sessions.

Thus, the best placement opportunities for deals can be initiated before or during the London session from 1.11645 where Fibonacci levels indicate. The MACD histogram is still 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, you should wait for the breakdown of the strong support level of 1.11330, then the target of investors will be the levels of 1.10630 - 1.11010.

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: 1.11540

Resistance Level 1: 1.11645
Resistance Level 2: 1.11755
Resistance Level 3: 1.11850
Resistance Level 4: 1.11965

Support Level 1: 1.11435
Support Level 2: 1.11330
Support Level 3: 1.11225
Support level 4: 1.11120