EUR/USD Technical Analysis - May/05

By Prful Patat   05:00 GMT

EURUSD broke consolidation on up side and reversed from daily resistance (1.4935) and retraced 61.8% (1.4837) of 1.4774 to 1.4739, extesnion1.4982-1.5039, also up trend line pass there. EURUSD break of 1.4809 supports next will be 1.4741 on intraday. In EURUSD strong resistance is at 1.4887, if break of this resistance further going up side toward 1.4983 on intraday. EURUSD won’t break of 1.4887 resistances then possible going down side toward 1.4729 as minor support, otherwise up trend remain same. EURUSD reversed 78.6% (1.2984) extension 127.2% (1.4750), 161.8% (1.5350) of 1.4288 to 1.2579 still in progress.

New High:  1.4883, 1.4966, 1.4910.

New Low:  1.4718, 1.4801, 1.4745.

Pivot Point: R3-1.5011, R2-1.4948, R1-1.4909, PP-1.4847, S1-1.4784, S2-1.4745, S3-1.4682.