Indicator analysis: Daily review of EUR/USD on May 19, 2023
May 19, 2023 8:23 am
Trend analysis (Fig. 1).
The market may move upward from the level of 1.0769 (closing of yesterday’s daily candle) to 1.0851, the 14.6% pullback level (red dotted line). When testing this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – up;
Fibonacci levels – up;
Volumes – up;
Candlestick analysis – up;
Trend analysis – up;
Bollinger bands – up;
Weekly chart – up.
General conclusion:
Today, the price may move upward from the level of 1.0769 (closing of yesterday’s daily candle) to 1.0851, the 14.6% pullback level (red dotted line). When testing this level, the price may continue to move up.
Alternatively, the price may move upwards from the level of 1.0769 (closing of yesterday’s daily candle) to 1.0851, the 14.6% pullback level (red dotted line). When testing this level, the price may move down.
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The market may move upward from the level of 1.0769 (closing of yesterday’s daily candle) to 1.0851, the 14.6% pullback level (red dotted line). When testing this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move upward from the level of 1.0769 (closing of yesterday’s daily candle) to 1.0851, the 14.6% pullback level (red dotted line). When testing this level, the price may continue to move up.
Alternatively, the price may move upwards from the level of 1.0769 (closing of yesterday’s daily candle) to 1.0851, the 14.6% pullback level (red dotted line). When testing this level, the price may move down.
The material has been provided by InstaForex Company – www.instaforex.com
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