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[b]Technical Analysis for EUR/USD: May 3, 2016[/b]
In opposition to the anticipation of most of us, the Manufacturing PMI in Germany reduced. The indicator displayed the data of 51.8 contrary with 51.9 in the recent month wherein it was seasonally revised. Meanwhile, experts hoped for the index to be at the recent level of 51.9.
The first support occurs at 1.1450 and at 1.1350 subsequently. The first resistance resides at 1.1550 and at 1.1650 subsequently.
A confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chikou Span. The Tenkan-sen shows an ascending motion and the Kijun-sen forms a horizontal movement. This movement will remain until the price is over the Cloud.
The MACD indicator is in a positive location. The price is growing.
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