EURUSD Weekly Technical Analysis (11-15 May,2015) | May 9, 2015

After retest 1.1065 area, this pair is continuing its bullish momentum. It made new fresh high within 3 months. From 1.1390 this pair start falling. With the daily candle it suggest sell idea in this pair. It seems that this pair has got back some bearish momentum. Now it is important to break near term support to fall further. If it break 1.1170 area, then this pair can fall 70-100 pips and target with be 1.1070 area. If this pair can break 1.1070 area, then we can expect more fall on this pair. So we need to wait for breakout.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.1547

Resistance One (R1): 1.1378

Pivot Point: 1.1222

Support One (S1): 1.1053

Support Two (S2): 1.0897