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*

Indicator analysis. Daily review on GBP / USD for May 4, 2020

Trend analysis (Fig. 1).

Today, a continuation of the downward trend is possible from the level of 1.2499 (closing of Friday candle) with the target of 1.2357 - a 23.6% retracement level (presented in a blue dotted line). In case of breaking this level downwards, the downward movement may continue with the target of 1.2177 - a 38.2% retracement level (presented in a blue dashed line).

analytics5eafaff4d9b4a.jpg

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - down.

General conclusion:

Today, the price may continue to move downward with the target of 1.2357 - a 23.6% retracement level (presented in a blue dotted line).

Another possible scenario is a bullish trend from the level of 1.2357 - a 23.6% retracement level (presented in a blue dashed line) with the target at the resistance line 1.2522 (presented in a red bold line). In case of breaking this level upwards, the continuation of the upward movement is possible with the target at the upper fractal 1.2643 (presented in a blue dashed line).

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