EUR USD Technical Analysis 12 May 2020
EUR USD Technical Analysis: The EUR declined 0.17% against the USD on Monday and closed at 1.0806. Today in the European session while EUR USD technical Analysis 12 May 2020 is preparing at 6:45 GMT, the pair is trading at 1.0815, which is 0.08% higher from yesterday’s closed.
The pair is expected to find support at 1.0785 and a fall through could take it to the next support level of 1.0700. The pair is expected to find its first resistance at 1.0837, and a rise through could take it to the next resistance level of 1.0868. For today the expected trading range is between 1.0737 Support and 1.0868 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.0785, Support 2: 1.0700, Support 3: 1.0737
Resistance Levels: Resistance 1: 1.0837, Resistance 2: 1.0868, Resistance 3: 1.0888
EUR/USD Buying Opportunity for Intraday Trading 12 May 2020
Buy near the support area 1.0785 and 1.0700 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
EUR/USD Selling Opportunity for Intraday Trading 12 May 2020
Sell near the resistance area 1.0837 and 1.0868 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.
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