Monday, May 6, 2019

EURUSD .. All roads lead to 1.1250 as a step on the way

Contrary to the expectations of many analysts that the pair fell below 1.1 and considering every rise is a chance to sell, the pair has proved its ability over the past few hours to overcome the obstacles, including the obstacles created by Donald Trump and its punitive tariffs, which distributes the world from China to Europe, Above the 1.11 key support and continued to trade positively despite the sharp fluctuations on most pairs

Technically steady trading above the 50-day average, the pair confirmed its ability to reproduce the first strong support near the 1.117 areas again, followed by very strong support at 1.11 while continuing to attempt to breach the initial resistance 1.12215 in an attempt to return to the 1.1250 area, which we expect to test the pair's ability to overcome and trade Consistently above that point to confirm the pair's ability to climb towards its first target at 1.13 to again test the refractive point and the interim target at 1.14

The financial flows to buy the pair increased during the past hours, which gave the pair the ability to continue to rise as evidenced by the form of candles on the four-hour chart while the stability of trading above the 50-day averages confirms the positive outlook of the husband

Trading Recommendation
Open a buyback on the pair from the current levels of those who did not follow our recent deal, which we bought from the levels of 1.118
And buy back if the pair retreated towards the 1.118 areas
The first profit taking level is 1.1250
By reaching that level, half of the contracts can be closed and the rest of the contracts are maintained with the stop loss close to the entry point and the second target being adjusted to 1.1320


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