BLOG | May 07, 2018

EUR/USD Analysis: May 7

EUR/USD Analysis for the 1st week of May 2018.

The end of the day analysis of EURUSD for the 30th of April, 2018 shows that the EURUSD pair came close to our initial target at 1.2045 and did a turnaround to settle roughly at 1.2085, and in so far as the price is not up to the 1.2160 level, the bearish trend situation continued to be active on the intraday and for a short while. This is an indication that breaching 1.2045 will move the price to target 1.1929 level straight away.

End of day analysis for EUR/USD for the first of May, 2018

The market for EURUSD pair closed the day by trading under 1.2045. This confirms the maintenance of the bearish trend towards our upcoming target at 1.1929, to maintain the bearish trend projected in the upcoming period, indicating that breaking 1.2045 will raise the price further up to test 1.2160 originally prior to any fresh trial to fall.

The EUR/USD End of the day analysis for the second of May, 2018

The EURUSD pair on the 2nd of May exhibited a few bullish biases to attain the 1.2045 level, and in so far as the price is not up to this level, the bearish impression we have earlier continued to apply for the forthcoming period, clearly showing that we are waiting to target 1.1929 level for the next trade position.

USD/EUR Chart May 7 2018

On the 3rd of May, the EURUSD pair continued to maintain its negative stability

The EURUSD pair trading culminated on the third of May below the 1.2045 level after the diverse ebb and flow of price in the last sessions, maintaining the bearish trend situation on the intraday and short-term period, bringing to mind that breaching the 1.1929 level will prolong the bearish price fluctuation to 1.1785.

Apart from this, it should be noted that breaking the 1.2045 position will push the price to attain the gains that start at the 1.2160 level prior to any fresh trial for a price reduction. The anticipated trade range for the day is around 1.1880 supports and 1.2060 resistance levels.

The trend for the day was anticipated to be bearish

The EUR/USD pair lost momentum during the day

The EURUSD pair ebbed within to one side track maintaining its stability underneath the 1.2045 position, indicating that stochastic lost the bullish momentum to attain the thresholds of the overbought positions, whereas the EMA50 continued to move the price in the negative direction.

Thus, the bearish trend continued to remain our anticipation for the forthcoming sessions maintained by the stability of the price under the 1.2045 level, indicating that we anticipated tested the 1.1929 position earlier, with breaching it signifying the likelihood to head towards 1.1785 direct.

The anticipated trading range for the day was around the 1.1880 support and 1.2060 resistance levels.  The trend for the day was anticipated to be bearish.

USD/EUR Chart May 7 2018

The EUR/USD Midday Analysis for the 4th of April, 2018

The EURUSD pair retraces its negative momentum to attain the key support at 1.1929, and stochastic offers a negative overlapping signal that we anticipated to excite the price to break the stated level which paved the way for the 1.1785 target for the forthcoming session.

Thus, our bearish anticipation continued to remain active for the day except the price breached the 1.2045 level and stayed beyond it.

The Euro attacked the support

The EURUSD pair traded strongly on the negative side and attacked 1.1929 and moved underneath it, buttressing the anticipations to continue the bearish trend and lengthen the bearish wave towards 1.1785, indicating that it is vital to hold under the 1.2045 level for the price to maintain the anticipated fall.

End of day analysis for EURUSD for the 4th of April, 2018

The EURUSD pair tried to breach the 1.1929 level and renounced to trade on top of it, and in so far as the price is less than 1.2045, our bearish overview will continue to be active. This implies that breaching the 1.1929 level would move the price towards the 1.1785 position which would stand for our upcoming correctional position.

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