Technical Analysis EUR/USD 29 May

2019-05-29

Today's technical analysis on May 29, the EUR / USD pair is dominated by bearish sentiment to complete consolidation in the Asian session, at strong resistance levels of 1.11755 - 1.12070 therefore it is desirable to wait for the breakdown of a strong support level, which can open the way to the levels of 1.11250 - 1.10755 in London and New York Sessions.

Thus, the best placement opportunities for transactions can be initiated before or during the London session from 1.11550 where Fibonacci levels indicate. The MACD histogram crossed the zero line from top to bottom, is now 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 currently does not generate clear signals. In the alternative scenario, you should wait for the breakdown of the strong resistance level of 1.11860, then the target of investors will be the levels of 1.12210 - 1.12725.

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: 1.11860
Resistance Level 3: 1.11965
Resistance Level 4: 1.12070

Support Level 1: 1.11550
Support Level 2: 1.11445
Support Level 3: 1.11340
Support level 4: 1.11235