EUR/USD: The trend remains bearish in view of the elections to the European Parliament


© O Financista. EUR/USD remains under pressure

Investing.com – The EUR/USD pair maintains a profile bearish this Monday, after having already declined substantially last week, the Euro-Dollar has touched a new low of 1.1150 early this morning.

No information influential for EUR/USD could not be found during the weekend, and investors have already turned to look at the key event of the week for the Euro.

The elections to the European Parliament, which will begin in effect on Thursday and ending Sunday. Thursday also, we will monitor index (PMI) preliminary european of the month of May.

Operators might therefore prefer to be cautious before Thursday’s high-risk that expects the EUR/USD pair.

Today, the economic calendar will be empty of important statistics, but we will monitor any possibly new statement about the trade relations China-USA, or about the tensions between the USA and Iran, who support the oil this morning.

From a graphical point of view, a break under the support of 1.1150 would expose the hollow May 3, at 1.1135, and then the hollow’s annual April 26 at 1.1110. Below this threshold, bit of graphic important can be identified before the psychological threshold key 1.10.

The increase, the moving average 100 hours (1.1192), the psychological threshold of 1.12 and the moving average 200 hours (1.1205) form an important area of resistance. Before this area, a resistance of the short-term can be identified to 1.1165.

Like this post? Please share to your friends:
Leave a Reply