Analysis and forecasts for EUR / USD 05/04/16

FX:EURUSD   Euro Fx/U.S. Dollar
11 months ago
Today's growth and the strong decline below the opening price may suggest a long-awaited correction. For this turn of events is also supported by the daily candle, which may indicate a trend reversal. Another aspect that suggests a strengthening of the dollar in the near future, is its seasonality. May is a particularly good month for the US currency, which strengthened in the past to most currencies . It was no different in previous years, the main currency pair. Over the past 10 years, the dollar strengthened against the euro             in May, up to 8-fold. The last argument, which supports the camp bears is the fact that after the recent rally almost six months, the correction in May would be a natural thing.

If my suspicions are correct, then in the near future we should see declines towards lower price levels. The closest props are the peaks of mid-October at 1,1489-95. After their break open the way towards the next support levels are located at levels 1,1437-65 (peaks in the first half of April). Further support will be around the level of 1.1416 and 1.1376.
11 months ago
Trade active: still open short position 1,1517 TP 1,1415
10 months ago
Trade closed manually: 1,1425
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