FX.co ★ EUR/USD analysis for May 05/30.219

EUR/USD price has been trading downwards. The price did test and reject from the yesterday's low at 1.1124. EUR is trading near the important support at 1.1108 and you should watch for buying opportunities.

White rectangle – Support

Red horizontal line 1- Resistance 1

Red horizontal line 2 – Resistance 2

EUR/USD did successful test and reject of the support at 1.1115, which is strong sign of the strength. We found also the bullish divergence on the Stochastic oscillator, which is another sign of the strength. We expect potential test of the middle bolinger line at 1.1161 and even test of 1.1194 in the next period. As long as the EUR is trading abot the support at 1.1110, we are watching for buying opportunities.