EURUSD: medium-term buys of the pair. | 06 May 2022

06 May 2022, EUR/USD

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.10021-1.10263. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.05176-1.05345. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• 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 05.05.2022.

• Quotation of the higher boundary of the zone 1/4 - 1.05945.

• Quotation of the higher boundary of the zone 1/2 - 1.05465.

• Intraday objectives: update the highs from 05.05.2022 - 1.06424.

• Medium-term objectives: test the lower bound of WCZ - 1.06664.

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

• Buy: 1.05465-1.05945, Take Profit 1-1.06424, Take Profit 2-1.06664.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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