50 BTC prize pool!
Get your share!
i'm in

EUR/USD Price Analysis: All of April and May’s price action held within the lower half of April’s range

EUR/USD Price Analysis: April closed the month little net changed with a ranging candle of 860 pips/points. All of April and May’s price action held within the lower half of April’s range.

EUR/USD Price Analysis

Market highlights from the last week

Monday 25 May: Bank Holiday UK and USA. According to the CFTC data, there was a small decline in overall Euro long positions, although there is still a significant position which will limit the scope for Euro gains

Tuesday 26 May: Ahead of Tuesday’s New York open, there were reports that the ECB has drafted contingency plans to continue its bond-buying programme without the Bundesbank if necessary

Wednesday 27 May: On Wednesday, ECB President Lagarde stated that the mild ECB scenario is outdated with the economic contraction seen as somewhere between medium and severe

Thursday 28 May: Euro-zone industrial sentiment recovered slightly to -27.5 for May from -32.5 previously

Friday 29 May: The headline Euro-zone CPI inflation rate declined to 0.1% for May from 0.3% previously which was in line with consensus expectations

EUR/USD Price Analysis

Let us have a look at the technical viewpoint: 

Monthly: April closed the month little net changed with a ranging candle of 860 pips/points. All of April and May’s price action held within the lower half of April’s range.

Weekly: Posted two weeks of net gains. Previous resistance is located at 1.1148 (week 23 March peak) 

A screen shot of a computer

Description automatically generated

Daily: Broken out of a symmetrical triangle formation to the upside. Reverse trend line support is located at 1.0983

A screenshot of a computer

Description automatically generated

Intraday 4-hour: Posted an Evening Doji star on the 4-hour chart. This candle formation often indicates the top of the trend and the start of a new downward bias. 

Outlook: There is scope for mild buying, but gains should be limited. We look for a corrective move lower toward the reverse trend line support

Possible trade setup: 

Action: Selling at 1.1140

Stop: 1.1170

Targets: 1.1000

Potential return on risk to first target:  R4.6 (reward 140 / risk 30)

Risk Warning - Your capital is at risk - Losses can exceed deposits

Trading spot foreign exchange and futures on margin carries a high level of risk and may not be suitable for all investors. You may lose all your capital. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. If you are in any doubt about investment or the mechanics of such products, you should seek independent financial advice

Euro / US Dollar
Daily change
1.13389
Low: 1.12687
High: 1.13408
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and FX pairs with crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and FX pairs with crypto or fiat
iMac Image
VISA MASTERCARD Yandex Money WIRE Faster payments SEPA PCI BTC ETH