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*

Forecast for EUR/USD and GBP/USD on May 29. Two divergences can cause pairs to have opposite effects

EUR/USD – 4H.

s4jQ1wQ0aM1CyId518NzGhxZ4wnxjWegkT9GwEaL

As seen on the 4-hour chart, the EUR/USD pair continues the process of falling, after closing below the Fibo level of 100.0% (1.1177). However, on May 29, a bullish divergence was formed in the CCI indicator, which allows traders to count on a reversal in favor of the European currency and some growth in the direction of the correction level of 76.4% (1.1241). There was nothing interesting in terms of news over the past day. Only the level of consumer confidence in the European Union has shown that trust is at an extremely low value. Now the pair is at an important point for itself, when, on the one hand, there is a bullish divergence, which is a very strong signal. On the other hand, there is no news, there is no support for the euro, traders are still looking with great caution in the direction of buying the euro. Wednesday will be the third day in a row when no information is expected from the two countries interested in the euro/dollar pair. Thus, the market will not force events today. Calm trades are expected. The closing of the euro quotes under the latest low divergence will work in favor of continuing to fall in the direction of the next correction level of 127.2% (1.1102)0.

The Fibo grid built on the extremums from March 7, 2019, March 20, 2019.

Forecast for EUR/USD and trading recommendations:

The pair EUR/USD closed below the Fibo level of 100.0%. Thus, I recommend buying the euro with the target at 1.1241, with a protective order under the correction level of 100.0%, if the quotes perform a close above the level of 1.1177. I recommend selling the pair after closing the pair under the low bullish divergence with the aim of a correction level of 1.1102 and stop loss order above 1.1177.

GBP/USD – 4H.

1pXq5g97uUHHzCCIVqpBz3Zh1Ssh2qCSUK5eU6_G

As seen on the 4-hour chart, the pound resumed the process of falling after the formation of bearish divergence in the CCI indicator. The GBP/USD pair performed a return to the correction level of 76.4% (1.2661). The rebound of quotes from this Fibo level will allow expecting a reversal in favor of the pound and some growth in the direction of the correction level of 61.8% (1.2796). The consolidation of quotations below the level of 76.4% will increase the probability of a further fall in the direction of the correction level of 100.0% (1.2437). Theresa May give an interview in Brussels at the same time. She told reporters that the issue of Brexit is now the problem of the next Prime Minister. However, she still believes that the earlier agreement with the European Union is the best solution for the UK. Theresa May also says that in any case, the Parliament will need a compromise to make any decision on Brexit.

The Fibo grid is built on the extremes of January 3, 2019, and March 13, 2019.

GBP/USD – 1H.

twQ4e5zI81os534NFXdqEGp51L_qcbcQfXExrqY0

As seen on the hourly chart, the GBP/USD pair performed an uncertain consolidation under the correction level of 161.8% (1.2673), which allows traders to expect a further fall of the pound in the direction of the correction level of 200.0% (1.2554). There are no emerging divergences on the current chart. Thus, the barrier to falling is the level of 76.4% on the 4-hour chart. In the UK, there is no news that would be able to inspire optimism in the market. Theresa May is preparing to resign and reports that she is sorry that she could not bring Brexit to the end. Traders are unlikely to like this information. This makes us believe that the pound still has little chance of growth. From America, there is also no news. At the same time, the demand for the US dollar still remains.

The Fibo grid is built on the extremes of April 25, 2019, and May 3, 2019.

Forecast for GBP/USD and trading recommendations:

The pair GBP/USD completed the close below the level of 1.2673. I recommend selling the pair with a target of 1.2554 with a stop loss order above the level of 161.8%, if the closure is performed below the level of 1.2661 (4-hour chart). I recommend buying a pair when closing above the Fibo level of 161.8% (hourly chart) with a target of 1.2782 and a protective order below the level of 1.2673.

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