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*

Indicator analysis: Daily review on GBP/USD for January 20, 2020

The pair moved up on Friday and reached the resistance line 1.3119, presented in a red dotted line. After that, the price quickly went down. Strong calendar news is not expected today. Perhaps there is a continuation of work down to the support line 1.2983 presented in a red bold line.

Trend analysis (Fig. 1).

As the price moves down today, it can test the support line 1.2983, presented in a red bold line. Only after that can it start moving up to the target of 1.3080, the pullback level of 38.2% presented in a red dashed line. If this line is reached, the market can continue to work up with the target and the upper fractal 1.3119.

analytics5e253c9b9056f.png

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may start to move up.

A downward scenario is unlikely but quite possible. That is, from the resistance line 1.2983, presented in a red bold line, continue to work down with the target 1.2954, the lower fractal in a red dashed line.

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