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. January 8. Results of the day. The European currency failed to overcome the highs of recent weeks

4-hour timeframe

jRiQzdq50w9UhcuArxKF-5sz0q137X6HET9AQX8N

The amplitude of the last 5 days (high-low): 44p - 172p - 102p - 73p - 87p.

Average amplitude for the last 5 days: 96p (99p).

The EUR/USD currency pair on Tuesday, January 8, was in calm trading with a downward trend. Daily volatility does not exceed 50 points, which is quite logical, given the complete lack of important macroeconomic information and reports. It was not possible to overcome the highs in the area of 1.1440 - 1.1470, so the downward movement today, tomorrow and in the coming days is the most logical. The pair has not been able to overcome the resistance area, indicated above, for several months. From a fundamental point of view, there is no reason for the euro's strong growth. Therefore, again, the movement down to the lower border of the side channel, that is, to the level of 1,1300, is quite expected and justified. Technically, the MACD indicator turned down, signaling a downward correction against the "Golden cross". However, in the face of frank, albeit rather wide, flat, the signals from the Ichimoku indicator are false and are not properly worked out. Thus, the current correction is hardly a correction in the truest sense of the word. Rather, it is a round of downward movement. In any case, the pair remains within the side channel and has no prerequisites for exiting it. Tomorrow, US President Donald Trump and head of the Bank of England Mark Carney will speak, which may affect the movement of both EUR/USD and GBP/USD pairs.

Trading recommendations:

The EUR/USD pair has started to adjust, having previously worked out a resistance zone of about 1.1470. Thus, it is recommended to open long positions now not earlier than the MACD reversal upward when the price is located above the critical line with the same goal.

Shorts are recommended to be considered in small lots (as the flat is preserved) with targets at 1.1339 and 1.1304 if traders consolidate below the Kijun-Sen line. It is still not necessary to talk about a change in the trend.

In addition to the technical picture, fundamental data and the timing of their release should also be taken into account.

Explanation of illustration:

Ichimoku Indicator:

Tenkan-sen-red line.

Kijun-sen – blue line.

Senkou span a – light brown dotted line.

Senkou span B – light purple dotted line.

Chikou span – green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD:

Red line and histogram with white bars in the indicator window.

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