Daily Forecast - 03 May 2016

EURUSD Spot

EURUSD

EURUSD reached 1.1515/20 & as far as 1.1539 as I write. We now look for 1.1555/65 then 1.1615/20. Further gains meet very strong resistance at 1.1640/50 & a good chance of a high for the week.

Below 1.1520 risks a slide to 1.1490 but the downside should be limited in the bull trend. If we continue lower look for support at 1.1470/65 which could hold the downside. Longs need stops below 1.1440.

 

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