Technical Analysis EUR/USD 21 May


Today's technical analysis for May 21, the EUR / USD pair is dominated by bullish sentiment to complete consolidation in the Asian session, at strong support levels of 1.11555 - 1.11240 therefore it is desirable to wait for the breakdown of a strong resistance level, which can open the way to levels of 1.12005 - 1.12520 within London and New York Sessions.

Thus, the best placement opportunities for transactions can be initiated before or during the London session from 1.11755 where Fibonacci levels indicate. The MACD histogram is still located in the negative zone, but already above its signal line, continues to gradually increase and thereby gives a buy signal. Stochastic Oscillator is in the neutral zone and generates a similar signal. In the alternative scenario, you should wait for the breakdown of the strong support level of 1.11450, then the target of investors will be the levels of 1.11015 - 1.10510.

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: 1.11650

Resistance Level 1: 1.11755
Resistance Level 2: 1.11850
Resistance Level 3: 1.11960
Resistance Level 4: 1.12065

Support Level 1: 1.11555
Support Level 2: 1.11450
Support Level 3: 1.11345
Support level 4: 1.11240