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*

GBP/USD: plan for the US session on May 24. Theresa May resigns, and the pound leaves this case without attention

To open long positions on GBP/USD, you need:

Today's news that British Prime Minister Theresa May will resign on June 7, passed for the market without a trace, as it was quite expected. Buyers of the pound in the second half of the day need to stay above the support of 1.2662, and the formation of a false breakdown there will be a signal to open long positions based on updating the morning high of 1.2723 and its breakthrough, which will open a direct road to the resistance area of 1.2789, where I recommend fixing the profits. When returning to the support of 1.2662, it is best to open long positions to rebound from a low of 1.2607.

To open short positions on GBP/USD, you need:

Bears are expected to return in the resistance area of 1.2723, after a report on retail sales in the UK, which did not please traders. The main task for the second half of the day will be a decrease and a breakthrough of the support of 1.2662, which will lead to a new, larger will of sales of GBP/USD with the update of the lows in the area of 1.2607 and 1.2564, where I recommend fixing the profit.

Indicator signals:

Moving Averages

Trading is conducted in the area of 30 and 50 moving averages, which indicates the lateral nature of the market and further uncertainty.

Bollinger Bands

The volatility of the indicator is low, which does not give signals to enter the market.

ZCbcRSZlfv8dqFDqkCvblWM9dSwHwrNyyGUU5MgF

Description of indicators

  • MA (moving average) 50 days – yellow
  • MA (moving average) 30 days – green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
The material has been provided by InstaForex Company - www.instaforex.com