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EURUSD: medium-term buys of the pair.

EURUSD: medium-term buys of the pair. | 05 May 2023

05 May 2023, EUR/USD

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.09600-1.09900. At the moment, the pair is trading higher, indicating the strength of buyers.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.10380-1.10430. At the moment, the pair is trading lower, indicating the weakness of buyers.

• The area of profitable prices for buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 03.05.2023.

• Quotation of the higher boundary of the zone 1/4 - 1.10404.

• Quotation of the higher boundary of the zone 1/2 - 1.09874.

• Intraday objectives: update the highs from 03.05.2023- 1.10934.

• Medium-term objectives: test the lower bound of WCZ - 1.11559.

• Trading recommendations: buys from the range of favorable prices in the formation of a reversal pattern.

• Buy: 1.09874-1.10404, Take Profit 1-1.10934, Take Profit 2-1.11559.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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