Consolidation is expected to be in the range of 1.1600 to 1.1540. First bear target might be seen at 1.1410 while first resistance is seen at 1.1620.
Chart: EUR/USD D1
Tuesday, May 3, 2016
EUR/USD 9-month High
EUR/USD is trading at a 9-month high in today's session marking a high of 1.1616 earlier this morning. Price is now 1.1580 and the uptrend movement appears to have dried up. It is still, however, too early to call it a trend change as price might prefer to enter into consolidation, instead, and stay there until market participants decide what it is that they want to do with the pair.
Consolidation is expected to be in the range of 1.1600 to 1.1540. First bear target might be seen at 1.1410 while first resistance is seen at 1.1620.
Chart: EUR/USD D1
Consolidation is expected to be in the range of 1.1600 to 1.1540. First bear target might be seen at 1.1410 while first resistance is seen at 1.1620.
Chart: EUR/USD D1
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The pair is back to testing 1.1500.
ReplyDeleteIt can appreciate up to 1.17 / 1.18
ReplyDeleteGreat take on markets today.
ReplyDeleteVery helpful analysis, I will keep it in mind.
ReplyDeleteLet’s see how it keeps going.
ReplyDeleteWe may see a correction before another move upward.
ReplyDeleteFinally closed in red.
ReplyDeleteGood assessment!
ReplyDelete1.1400 level is still holding for now.
ReplyDelete