03.05.201915:53 Forex Analysis & Reviews: EUR./USD analysis for May 03, 2019

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EUR/USD has been trading downwards as we expected and our main target is met at the price of 1.1151. Post Non-Farm Employment Change did bring us rejection from the support and there is chance for the upward correction.

Yellow horizontal line – strong support

Blue line – Median Keltner line 20 EMA (current resistance)

EUR/USD did amazing job with our downside view yesterday and the key target at 1.1151 has been met. Anyway, the rejection after the test happened and there is a chance for upward correction till end of the day. We found good resistance at the price of 1.1187 (previous swing low became resistance) and at the price of 1.1210. The trend is still downward but the strong rejection from support is not good sign of further downward continuation. Anyway, if you see the breakout of 1.1151, there is potential for the test of 1.1118.

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