Euro US Dollar: technical view is negative, selling opportunity below 1.1134

For intraday trading session the Euro US Dollar pair technical view is negative and leaves lean for bearish assumption.

On the 03/08/2016 Euro US Dollar close was at 1.115 (-0.61%). 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 value of major oscillators are slightly positive.

Euro US Dollar technical view negative

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Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 1.1070). 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: 03/08/2016

Performance: 7 trading days= +1.48% – 15 trading days= +0.40% – 30 trading days= -1.61%
Resistance levels: R1= 1.1200 – R2= 1.1249 – R3= 1.1329
Pivot Point: 1.1169
Support levels: S1= 1.1120 – S2= 1.1089 – S3= 1.1009

Buying opportunity above 1.1186 targets minor resistance at 1.1226 and perhaps as far as strong resistance at 1.1257, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.1307.

Selling opportunity below 1.1134 targets minor support at 1.1095 and perhaps as far as strong support at 1.1065, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.1014.

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