FX.co ★ EUR/USD analysis for May 03, 2017

Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.0906. According to the 5M time frame, I found broken trading range (accumulation), which is a sign that selling looks risky. The short-term trend is bullish. My advice is to watch for potential buying opportunities. There is also a hidden bullish divergence on the moving average oscillator. The first upward target is set at the price of 1.0935.

Resistance levels:

R1: 1.0935

R2: 1.0950

R3: 1.2965

Support levels:

S1: 1.0900

S2: 1.0885

S3: 1.0865

Trading recommendations for today: watch for potential buying opportunities.