Tag: forex analysis

Forecast for GBP/USD on May 20, 2019

GBP/USD

On Friday, the pound sterling fell by 80 points, moving away from the support of the embedded line of the price channel, which has now become a resistance. The signal line of the marlin oscillator on the daily and four-hour charts slightly bent up, but the opening of Monday occurred with an increasing gap, which indicates the imminent overlap of this gap with the price and its further decline. In this case, the marlin oscillator will work out the effect of discharge (voltage relief) before further downward movement.

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The first target of the decline is last year’s low on August 15 at 1.2660. Visually, the marlin oscillator on H4 will not have time to form a reversal formation by this time, so the pound’s corrective growth is more likely to be expected from the second target level – the December 14 low at a price of 1.2530.

The material has been provided by InstaForex Company – www.instaforex.com

Forecast for EUR/USD on May 20, 2019

EUR/USD

Last Friday, the euro continued to fall on expectations of an increase in opposition forces in the European Parliament after the elections of May 23-26. The price reached the first target of 1.1155 – the Fibonacci level 110.0%, and this morning it already overcame it with the intention to reach the second target of 1.1075 – the Fibonacci level 123.6%.

There are no technical reasons to prevent the euro from doing so. On the daily chart, the price has consolidated below the indicator lines of balance and MACD, the marlin oscillator is steadily declining in the negative zone.

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On the four-hour chart, the indicators also do not serve the scale of reversal signs, the downward trend is steady. In the event of overcoming the target level of 1.1075, the next target opens before the price – 1.0985 – the Fibonacci reaction level of 138.2%.

The material has been provided by InstaForex Company – www.instaforex.com

Fractal analysis of major currency pairs for May 20

Forecast for May 20:Analytical review of H1-scale currency pairs:For the euro / dollar pair, the key levels on the H1 scale are: 1.1222, 1.1212, 1.1197, 1.1184, 1.1156, 1.1144 and 1.1112. Here, we continue to follow the development of the downward stru…

Control zones USDCHF 05/20/19

The pair’s downward movement is still a medium-term impulse. As long as the pair is trading below the WCZ 1/2 1.0154-1.0145, any upward movement will fit into the correction frame. The higher the price growth, the more favorable prices can be obtained …