Indicator analysis. The daily review of the EUR / USD currency pair for May 16, 2018

On Wednesday, the following strong calendar news comes out:

- 10.00 London time. EUR, consumer price index (CPI) (y / y) (Apr), waiting for 1.2%, the previous value was 1.2%;

- 13.00 London time. EUR, speech by the head of the ECB Draghi;

- 13.30 London time. USD, the number of issued construction permits (Apr), waiting for 1.350M, the previous value was 1. 379M;

- 15.30 London time. USD, stocks of crude oil, are waiting for -1.467M, the previous value was -2.197M.

Trend analysis (Figure 1).

On Tuesday, traders decided that a rollback of 23.6% would be enough, and they started working together unanimously (although the news also helped). On Wednesday, the market with a high probability can continue to move up. The complex analysis will more accurately tell where the price will go.


Fig. 2 (daily chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - down;

- Volumes - down;

- Candle analysis - neutral;

- Trend analysis - down;

- Bollinger lines - up;

- Weekly schedule - up.

General conclusion.

On Wednesday, the market will move up, with the first goal of 1.1930, a pullback level of 14.6% (yellow dotted line).

The material has been provided by InstaForex Company -