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 23/10/2019

Technical Market Overview:

The EUR/USD pair has made a high at the level of 1.1179 and then reversed after the Dark Cloud Cover candlestick pattern was made around the top. The bears have managed to push the price back to the ascending channel and are about to test the technical support located at the level of 1.1109. The momentum is now neutral, but there is still a chance for another leg up after the correction is completed. The nearest technical support is seen at the level of 1.1109 and the key technical support is still located at the level of 1.1091.

Weekly Pivot Points:

WR3 - 1.1435

WR2 - 1.1300

WR1 - 1.1250

Weekly Pivot - 1.1120

WS1 - 1.1063

WS2 - 1.0981

WS3 - 1.0893

Trading Recommendations:

The best strategy for current market conditions is to trade with the larger timeframe trend, which is down. All upward moves will be treated as local corrections in the downtrend. The downtrend is valid as long as it is terminated or the level of 1.1445 clearly violated. There is an Ending Diagonal price pattern visible on the larget timeframes that indicate a possible downtrend termination soon. The key short-term levels are technical support at the level of 1.0999 and the technical resistance at the level of 1.1267.

analytics5dafe51302397.jpg

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