FX.co ★ EUR./USD analysis for May 07, 2019

EUR/USD has been trading sideways at the price of 1.1186. EUR did break the support trendline in the background, which is sign that sellers took control from buyers at least on the intraday prospective.

Yellow rectangle – Resistance 1

Yellow rectangle – Resistance 2

Yellow horizontal line – Support 1

Yellow horizontal line – Support 2

According to the H1 time-frame, we found that EUR confirmed resistance at the price of 1.1215, which is good sign that sellers are in control. EUR did break the diagonal support in the background and the momentum increased on the downside. We expect, potential testing of support levels at 1.1171 and 1.1136. Upward scenario will come into the play only if we see clean break of resistance at 1.1215. Watch for intraday selling opportunities.