New bearish technical picture drawn on Euro FX USD future daily chart. Marked a third consecutive negative trading session.
Yesterday trading session Euro FX USD future close was at 1.1411 (-0.89%). New bearish technical picture drawn on daily chart (high2 > high1, high1 > high, low2 > low1, low1 > low, close2 > close1, close1 > close), we suggest to watch today closing. For intraday trading session the technical view is negative and leaves assume the down-trend continuation. However, we can’t exclude rebounds towards the most significant resistance levels. The major oscillators confirm the downward trend. Marked a third consecutive negative trading session. We suggest to monitore today closing.
View the interactive chart on ProRealTime.com
Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 1.1381). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Daily chart shows volume is lower than the previous day. This could be a sign of a significant move to come.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 05/05/2016.
Performance: 7 trading days= +0.62% – 15 trading days= +0.95% – 30 trading days= +1.91%
Resistance levels: R1= 1.1479 – R2= 1.1546 – R3= 1.1654
Pivot Point: 1.1438
Support levels: S1= 1.1371 – S2= 1.1330 – S3= 1.1222
Buying opportunity above 1.1443 targets minor resistance at 1.1483 and perhaps as far as strong resistance at 1.1513, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.1562.
Selling opportunity below 1.1397 targets minor support at 1.1359 and perhaps as far as strong support at 1.1330, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.1279.