New bullish technical picture drawn on Euro US Dollar daily chart. The major oscillators confirm the upward trend.
Euro US Dollar yesterday close was at 1.1524 (+0.63%). Marked a series of 5 consecutive higher highs. New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), we suggest to watch today closing. For intraday trading session the technical view is positive and leaves assume the up-trend continuation. However, we can’t exclude retracements towards the most significant support levels. The major oscillators confirm the upward trend. Marked a sixth consecutive positive 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 1.1324). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 02/05/2016
Performance: 7 trading days= +2.67% – 15 trading days= +1.24% – 30 trading days= +2.70%
Resistance levels: R1= 1.1557 – R2= 1.1591 – R3= 1.1679
Pivot Point: 1.1503
Support levels: S1= 1.1469 – S2= 1.1415 – S3= 1.1327
Buying opportunity above 1.1545 targets minor resistance at 1.1586 and perhaps as far as strong resistance at 1.1616, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.1667.
Selling opportunity below 1.1497 targets minor support at 1.1456 and perhaps as far as strong support at 1.1426, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.1376.