empty
 
 
28.05.2020 12:51 PM
Technical analysis of EUR/USD for May 28, 2020

This image is no longer relevant

Overview:

Right now the price is trading around the spot of 1.1008. The EUR/USD pair faced resistance at the level of 1.1008, while minor resistance is seen at 1.0959. Support is found at the levels of 1.0892 and 1.0830. Also, it should be noted that a daily pivot point has already set at the level of 1.0892. Equally important, the EUR/USD pair is still moving around the key level at 1.0892, which represents a daily pivot in the H4 time frame at the moment. Yesterday, the EUR/USD pair continued to move upwards from the level of 1.0892. The pair rose from the level of 1.0892 to the top around 1.0959. In consequence, the EUR/USD pair broke resistance, which turned strong support at the level of 1.0892. The level of 1.0892 is expected to act as major support today. From this point, we expect the EUR/USD pair to continue moving in the bullish trend from the support level of 1.0892 towards the target level of 1.0959. If the pair succeeds in passing through the level of 1.0959, the market will indicate the bullish opportunity above the level of 1.0959 in order to reach the second target at 1.1008. Notwithstanding, if a breakout happens at the support level of 1.0892, then this scenario may be invalidated. But we still thinking for a strong bullish market as long as the price above the pivot point of 1.0892.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback