EURUSD: temporary uncertainty. | 11 May 2020

11 May 2020, EUR/USD

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.08627-1.08837. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: temporary uncertainty. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.07889-1.07973. At the moment, the pair is trading higher, indicating the weakness of sellers.

• The area of profitable prices for sell in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the minimum 07.05.2020.

• Quotation of the lower boundary of the zone 1/4-1.08123.

• Quotation of the lower boundary of the zone 1/2-1.08578.

• Intraday objectives: update the lows from 07.05.2020-1.07667.

• Medium-term objectives: test the higher bound of GWCZ - 1.07483.

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

• Sell: 1.08123-1.08578, Take Profit 1-1.07667, Take Profit 2-1.07483.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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