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 on May 11, 2020

EUR/USD

Friday's release of US employment data did not provoke a strong market reaction, as it did on Wednesday with data from ADP. Unemployment rose from 4.4% to 14.7% in April, but it was below the forecasted 16.0%, in the non-agricultural sector there was a decrease of 20.5 million jobs, but this indicator was better than the forecast of 22.0 million, which was accepted by investors as good situational data. On the contrary, in Germany the data turned out to be worse than the forecast: the trade balance for March fell from 21.4 billion euros to 12.8 billion while expecting 19.0 billion euros. As a result, the euro traded in a moderate range of 60 points and closed the day with a symbolic increase of 6 points.

The price is still below the red balance indicator line on the daily chart, the price reached this line last Friday. The Marlin oscillator reached the boundary of the growth territory, a downward reversal of the signal line is possible from the zero line.

analytics5eb8c7be1f10a.jpg

The upper shadow of the Friday extreme candle only touched the resistance of the indicator balance line on the four-hour chart, copying the pattern of the daily timeframe.

analytics5eb8c7d12b0d8.jpg

This is a condition for maintaining a declining trend. In any case, until the near future, there is no news that can overcome the Friday release from the Ministry of Labor. Today, we can expect news in the form of data on the volume of industrial production in Italy in March, the forecast for it is -20.0% after -1.2% in February. Industrial production of the entire euro area will be released on Wednesday, economists forecast -12.0%, a report on industrial production in the US will be released on Friday - a forecast of -11.3%. Although not by much, the situation in the US is better.

The signal line of the Marlin oscillator is slightly higher than the neutral line, while the market remains neutral. A full condition for the price to fall further is to overcome the Thursday low of 1.0767. The goal remains the same - 1.0595.

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