Hi Friends, 

I am posting the intraday key support/resistance levels for EUR/USD . The strong ones are underlined. These levels are identified as per technical outlook and the discerned movement till date that includes the fundamental analysis also. These levels therefore give you a high probability case for a price to bounce/pull back (by 7-20 pips) when it reaches these levels for the first time in the day. So follow these levels and make better trade set ups!

Wednesday's high 1.3876, low 1.3773, pivot 1.3832, total pips 103

Main supports 

1.3838/431.3822, 1.38011.37881.3773/75, 1.3761, 1.3735

Main resistances

1.3876/78, 1.3902/5, 1.3941, 1.3966

Analysis: With EURO posting better CPI and US GDP becoming weak, market was able to restore its upside but remained below 1.3900 for the day as expected. Now the longer time frames from 1 hr to daily are portraying a bullish outlook again as such a test of 1.3900 will be easy today and further gains do not look too difficult. Maximum limit for the day should be 1.3930/40. However, sellers are expected to be active at these levels. 1.3800 should be the intraday support in case of a strong correction. 
today's data :-
GMT
11.30  Challenger's job cut , US
12.30   fed Yellen's speech, jobless claims, Personal income and consumption, US
13.45   Markit manufacturing, US
14.00   construction spending, ISM manufacturing and Prices, US

LEVEL HISTORY of April 30, 2014

Referring to yesterday's posted levels, please find below the results for price's first attempt (for yesterday only ) of the levels:-

Supports

1.3788/85  - 10 pips bounce..............................positive

Resistances

1.3832 - more than 10 pips bounce....................positive

1.3860 - broken to 1.3870 and then bounced.....negative

1.3877/76 -  more than 10 pips bounce .............positive

Your comments and likes are most welcome. 

Good day!

 

Views: 203

Comment by Daologic on May 1, 2014 at 3:21am

It seems a good idea to put pending orders on this levels for scalping.

Comment by Nili on May 1, 2014 at 4:48am

Yes that's 'the' idea!  thanks!

Comment by Chandan Kumar on May 1, 2014 at 6:01am

good idea...

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