Technical analysis of EUR/USD 11/05/2019
The EUR/USD currency pair is currently trying to break through the support level of 1.1100, in which MA100, 23.6% Fibo and the lower border of the uptrend intersect on the 1D timeframe.
In case of breaking and consolidation below 1.1100, there is reason to assume that the downward movement will continue to the area of 1.1030, where MA200, 50% Fibo, the level of mirror projection of the last maximum intersect. Also in favor of decline option is the discrepancy on the RSI indicator.
Cancellation of the decline option will be a strong growth above the resistance zone at the level of 1.1170.
Created by Joshua Hayn