FX.co ★ EUR/USD analysis for 03.05.2020 - Massive buying climax in the background, watch for selling opportunities with the first downward target at 1.1095

Technical analysis:

EUR/USD has been trading upwards.The price reacehd main multi-pivot resistance at the price of 1.1200.Due to test of major resistance, I expect downside movement towards the levels at 1.195, 1.1056 and 1.0955.

Additionally, I found massive buying climax few days ago, which is indication that buyers might be in the trouble. Watch for selling opportuniteis using the intraday frames like 15/30 minutes...

Major resistance level is set at the price of 1.1210

Support levels and downward targets are set at the price of 1.1095 and 1.1056