Indicator analysis. Daily review for May 22, 2019 for the currency pairs EUR / USD and GBP / USD
May 22, 2019 9:21 am
On Tuesday, the market for both currencies moved in the side channels, and this is the merit of fundamental analysis. The pair GBP / USD has fulfilled the rollback upwards of 14.6% – 1.2756 (yellow dotted line) and then continued to move downwards. On the other hand, the EUR / USD tested the support line – 1.1146 (blue thin line) once again. However, the news drove the price upwards again. On Wednesday, strong calendar news come out at 8.30 14.30 and 18.00 Universal time.
EUR / USD pair
Trend analysis (Fig. 1).
Today, the price after testing the support line 1.1146 (blue dotted line), can continue to move downwards with the target of 1.1125 – the lower boundary of the Bollinger Line indicator (black dotted line) and move further downwards with the target of 1.1112 – lower fractal.
Fig. 2 (daily schedule).
Comprehensive analysis:
– indicator analysis – down;
– Fibonacci levels – down;
– volumes – down;
– candlestick analysis – up;
– trend analysis – down;
– Bollinger lines – down;
– weekly schedule – down.
General conclusion:
On Wednesday, we are waiting for the continuation of the downward movement. The first lower target of 1.2662 is the pullback level of 76.4% (blue dashed line) and further down to the lower boundary of the indicator “Bollinger lines” (black dashed line) – 1.2616.
The material has been provided by InstaForex Company – www.instaforex.com
On Tuesday, the market for both currencies moved in the side channels, and this is the merit of fundamental analysis. The pair GBP / USD has fulfilled the rollback upwards of 14.6% – 1.2756 (yellow dotted line) and then continued to move downwards. On the other hand, the EUR / USD tested the support line – 1.1146 (blue thin line) once again. However, the news drove the price upwards again. On Wednesday, strong calendar news come out at 8.30 14.30 and 18.00 Universal time.
EUR / USD pair
Trend analysis (Fig. 1).
Today, the price after testing the support line 1.1146 (blue dotted line), can continue to move downwards with the target of 1.1125 – the lower boundary of the Bollinger Line indicator (black dotted line) and move further downwards with the target of 1.1112 – lower fractal.
Fig. 2 (daily schedule).
Comprehensive analysis:
– indicator analysis – down;
– Fibonacci levels – down;
– volumes – down;
– candlestick analysis – up;
– trend analysis – down;
– Bollinger lines – down;
– weekly schedule – down.
General conclusion:
On Wednesday, we are waiting for the continuation of the downward movement. The first lower target of 1.2662 is the pullback level of 76.4% (blue dashed line) and further down to the lower boundary of the indicator “Bollinger lines” (black dashed line) – 1.2616.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: