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*

Analysis of the divergence of GBP / USD on October 11. Divergence effect persists

4h

analytics5bbeef3c3a468.png

The currency pair GBP / USD continues the process of growth in the direction of the correction level of 38.2% - 1.3316 after the formation of a bullish divergence in the CCI indicator. The end of October 11 quotations from the Fibo level of 38.2% will allow traders to expect a reversal in favor of the US currency and a slight decline in the direction of the correction level of 23.6% - 1.3067. New emerging divergences in the current chart are not observed in any indicator.

The Fibo grid was built according to extremums of April 17, 2018, and August 15, 2018.

1hanalytics5bbeef4522cb6.png

On the hourly chart, three bearish divergences were formed at once, and all of them were at the MACD indicator. Each of them allowed the pair to make a small fall, after which the growth process was resumed. As a result, the pair completed closing above the Fibo level of 76.4% - 1.3208 and, thus, the growth process can be continued in the direction of the next level of correction 100.0% - 1.3298. Fixing quotations below the Fibo level of 76.4% will work in favor of some fall in the direction of the correction level of 61.8% - 1.3153.

The Fibo grid was built according to extremums of September 20, 2018, and October 4, 2018.

Recommendations to traders:

New purchases of the GBP / USD currency pair can be made with the target at 1.3398 and the Stop Loss order under the correction level of 76.4% if the peak of the last divergence is completed (hourly chart).

Selling of the currency pair GBP / USD will be possible with the target of 1.3153 and a Stop Loss order above the level of 76.4% if the pair closes below the Fibo level of 1.3208 (hourly chart).

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