Major Currencies Analysis – May/02

URUSD
EURUSD is consolidation on 4 hour chart, break of 1.4753 support further going down side toward 1.4606 and break of 1.4866 resistance, next target will be 1.4926 on intraday. EURUSD is consolidation, possible breakout up side as per complex pattern and break of this consolidation, next target will be 1.4935. If EURUSD won’t break of daily PP then retracement possible toward 1.4606, 1.4435 or break of 1.4925 resistances further going up side toward 1.5350 next targets. In EURUSD minor support is at 1.4733, also trend line passes there. If EURUSD will reverse from 1.4606, 1.4435 then extension at 1.5074, 1.5350 which is also 161.8% extension of 1.4288 to 1.2579. EURUSD reversed 78.6% (1.2984) extension 127.2% (1.4750), 161.8% (1.5350) of 1.4288 to 1.2579 still in progress.
New High:  1.4842, 1.4880, 1.4844.
New Low:  1.4767, 1.4805, 1.4769.
Pivot Point: R3-1.4903, R2-1.4874, R1-1.4857, PP-1.4829, S1-1.4800, S2-1.4783, S3-1.4754.

 

GBPUSD
GBPUSD reversed from 78.6% (1.6718) of 1.6744 to 1.6625, extension 127.2% (1.6589), 161.8% (1.6547),like “M” shape pattern, confirm at 1.6547.GBPUSD retraced 38.2% (1.6625) of 1.6429 to 1.6745, extension 1.6830, 1.6940, possible going up side from here if break of 1.6717 resistance, otherwise “M” shape pattern form. GBPUSD break of 1.6649 supports further going down side toward 1.6525 on intraday. In GBPUSP minor support is at 1.6624. If GBPUSD will reverse from 1.6523, 1.6383 area, extension is at 1.6895, 1.7091.
New High:  1.6714, 1.6763, 1.6755.
New Low:  1.6616, 1.6665, 1.6657.
Pivot Point: R3-1.6781, R2-1.6744, R1-1.6721, PP-1.6683, S1-1.6645, S2-1.6622, S3-1.6584.

AUDUSD
AUDUSD broke neutral up trend line on 1hour chart. If AUDUSD won’t break of 1.0862 support, then again going up side toward extension 1.1049. In AUDUSD minor support is at 1.0884, and reverses from 1.0884 then extension at 1.1099. AUDUSD break of 1.0862 support, next target will be 1.0806 on intraday.  In AUDUSD strong support is at 1.0862. In AUDUSD retracement will be possible after 1.1049 extension.
New High: 1.0974, 1.1022, 1.1018.
New Low:  1.0878, 1.0926, 1.0922.
Pivot Point: R3-1.1038, R2-1.1002, R1-1.0979, PP-1.0942, S1-1.0905, S2-1.0883, S3-1.0846.

USDCAD
USDCAD is near to extension 127.2% at 0.9404 of 0.9523 to 0.9973, 161.8% (.9254). USDCAD break of 0.9404 next target will be 0.9381 on intraday and if not break of 0.9404 then retracement possible toward 0.9525, 0.9598 areas. USDCAD strong resistance is at 0.9563 break of 0.9563 down trend change as neutral up trend. In bigger range USDCAD revered  from 38.2% (0.9692), extension 127.2% (0.9404), 161.8% (0.9247) on daily chart.
New High:  0.9499, 0.9551, 0.9501.
New Low:   0.9394, 0.9446, 0.9396.
Pivot Point: R3-0.9585, R2-0.9545, R1-0.9520, PP-0.9480, S1-0.9440, S2-0.9415, S3-0.9375

For more Daily Analysis and  Forex Signals visit @  ForexTradingEVO.com