Technical Analysis EUR/USD 31 May


Today's technical analysis on May 31, the EUR / USD pair is dominated by bullish sentiment to complete consolidation in the Asian session, at strong support levels of 1.11230 - 1.10925 therefore it is desirable to wait for the breakdown of a strong resistance level, which can open the way to the levels 1.11730 - 1.12210 during London and New York Sessions.

Thus, the best placement opportunities for deals can be initiated before or during the London session from 1.11430 where Fibonacci levels indicate. The MACD histogram is still located in the negative zone and slightly below its signal line, but it began to rise very smoothly and thus indicates a possible increase in bullish moods. Stochastic Oscillator has come out of the oversold zone and forms a buy signal. In the alternative scenario, you should wait for the breakdown of the strong support level of 1.11135, then the target of investors will be the levels of 1.10775 - 1.10250.

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: 1.11330

Resistance Level 1: 1.11430
Resistance Level 2: 1.11535
Resistance Level 3: 1.11640
Resistance Level 4: 1.11765

Support Level 1: 1.11230
Support Level 2: 1.11135
Support Level 3: 1.11030
Support level 4: 1.10925