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*

Technical analysis of EUR/USD for July 20, 2018

The EUR/USD was in the process of breaking below the triangle pattern and below 1.16 support when the comments by POTUS weakened the Dollar as he questions the policy Fed follows. The EUR/USD has bounced strongly towards cloud resistance.

analytics5b518b0bd964a.png

Red lines - triangle pattern

Blue line -critical support

Black lines - bullish divergence

In the 4-hour chart, as shown above, we have a bullish RSI divergence as the RSI did not make new lows together with the price. The price has bounced strongly towards cloud resistance. Bulls need to break above 1.1680-1.17 to change short-term trend to bullish again. A break back below 1.16 combined with a new RSI lower low would be a bearish signal for EUR/USD that could lead towards 1.15 and lower. Major resistance remains at 1.1750-1.1760.

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