MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

EUR / USD pair: technical analysis recommendations for October 2

EUR / USD pair

Today should be a relatively calm day for trading. Shocks and sharp fluctuations, due to the news background, are not expected. The most significant event in the economic calendar on October 2 is the speech of the Chairman of the Board of Governors of the Federal Reserve Jerome Powell (16:44 London time).

analytics5bb3395637d08.jpg

The technical picture in recent days leaves advantages on the side of the players to fall, who are now seeking to increase their influence and enlist the support of as many Ichimoku indicator elements as possible. The Chikou Line, which most accurately warned about the end of the time allotted for the upward movement (MVD dated 09.22.18.), draws a breakdown of the price chart today. As a result, Chinkou can move to the side of bears, giving them a benchmark downward target. In addition, the bears are currently seeking to overcome the daily cloud of (1.1546-12). Fixation in the bearish zone will form another downward reference point (target for the breakdown of the daytime cloud). At the same time, consolidation under the key supports will return the possibility of considering the guidelines of the weekly downward target on the breakdown of the weekly cloud. One of which is the lower limit of the weekly cloud (1.1558). Based on all of the above, it can be concluded that bears, having implemented these plans, will get good prospects and guidelines for reduction. In this situation, the players in the near future will have to start with retests in the area of 1.1565-75 - 1.1635-65 - 1.1708-26.

analytics5bb33964743b2.jpg

Yesterday, the players on the fall completed upward corrections, not allowing the opponents to go above the short-term H4 trend. Today, the bears began to break down the accumulated resistance. The H4 and H1 are now all elements of the Ichimoku indicator on the side of the players to fall. The goals and guidelines of the lower timeframes are worked out and the main task remaining for the near future is to break down and reliable consolidation below 1.1512 (daily Senkou Span A).

MmBBQjT-ZJPTfXH6gdSOHng75jI-nFt_odJUEYKH

Indicator analysis currently prefers sales. It cannot be otherwise as the downward trend is now in its active phase. The only thing you need to pay attention to is that the trend indicators have already gone into the oversold zone, while the pair is close to the final Pivot-level of the S3 day (1.1491), and the size of the daily move is currently almost equal to the daily reading ATR (14). All this is a reason for a more careful determination of bearish landmarks and profits.

Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Avarage (120)

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