EUR/USD Technical Analysis – May/06

EURUSD broke support and going down side toward 50. % (1.4548), 61.8% (1.4455) of 1.4156 to 1.4939. EURUSD broke consolidation on down side, now retracement possible toward 1.4750-1.4773 area as broke wedge formation on 1 hour chart. EURUSD break of 1.4507 supports next will be 1.4455-1.4409 area on intraday. In EURUSD strong resistance is at 1.4845, if break of this resistance further going up side toward 1.5065 next target. EURUSD reversed 78.6% (1.2984) extension 127.2% (1.4750), 161.8% (1.5350) of 1.4288 to 1.2579 still in progress on daily chart.

New High:  1.4719, 1.4913, 1.4734.

New Low:  1.4331, 1.4525, 1.4346.

Pivot Point: R3-1.5037, R2-1.4889, R1-1.4797, PP-1.4649, S1-1.4500, S2-1.4409, S3-1.4260.