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


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

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.



Expert In



EUR/USD, GBP/USD - results of the week and future prospects



The bulls managed to close the week in an optimistic manner. They managed to get out of the correction zone and continue the weekly upward trend. If you manage to keep what you have achieved, then you can focus on monthly results. December was the month when the euro attempted to leave the Ichimoku cloud. When a breakout is made, confirmed on a monthly timeframe, it is possible to consider a new upward reference point - a monthly target for a cloud breakout. At the moment, a closer upward benchmark would be the previous month's high (1.2555), further resistance may be provided by the reference points of the monthly target for surpassing the price chart using the Chinkou line (1.2703-1.2897). In case players fail to rise and when priorities change, strengthening the bearish sentiment will pass through 1.2170 (record level + daily Tenkan) - 1.2018 (border of the monthly cloud) - 1.1937 (weekly Tenkan), the lines of the daily cross will act as intermediate supports , now they are located at 1.2092 - 1.2036 - 1.1980.


Indicator analysis creates several prerequisites for forming a bearish divergence in the current situation, but you can only take note of the usual bearish divergence, although with a minimal difference when marking a peak, on the CCI (daily timeframe). This circumstance increases the chances of turning Friday's deceleration into a full-fledged downward correction.



Upward targets remain relevant for bullish traders, which in the current conditions can be designated at 1.3904 - 1.4181 - 1.4376 - 1.4588. Support for the weekly short-term trend and a good upward gap when the week started has helped bulls in ending the downward trend. They have recently renewed the previous week's high, but they failed to gain a foothold above it and hold positions. There was a correctional decline again on the daily timeframe, having reached the target for the breakdown of the H4 cloud (1.3627), the pair returned to support at 1.3481-1.3538. Getting the pair to settle below the levels will make it possible for us to expect that we can return to the lower border of the monthly cloud (1.3350). Support for the Ichimoku daily golden cross is now at 1.3350. The loss of support for the monthly cloud (1.3350) and the liquidation of the daily golden cross will be a rather large victory for the bears in the current section of the movement, which will allow them to count on a downward correction before the supports of the monthly Ichimoku cross.


On the daily timeframe, past divergences that form divergences have been discharged in the form of a small correction, but at the current stage there are no divergences and prerequisites for a divergence. Bearish divergences persist on the weekly timeframe, as divergences are still relevant.

Ichimoku Kinko Hyo (9.26.52)

The material has been provided by InstaForex Company -