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 May 20, 2020

The pair traded upward on Tuesday and tested the support line 1.2269 (presented in a red bold line). Today, the price may continue to move up. Economic calendar news for the pound is expected at 13:30 UTC, and for the dollar at 14:30 and 18:00 UTC.

Trend analysis (Fig. 1).

Today, the upward trend is likely to continue from the level of 1.2252 (closing of yesterday's candle) with the target of 1.2293 - a 38.2% retracement level (presented in a red dotted line). If this level is reached, the upward movement is likely to continue with the next target of 1.2360 - a 50.0% pullback level (presented in a red dashed line).

analytics5ec4ca43852eb.jpg

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger Lines - down;

- Weekly schedule - up.

General conclusion:

Today, the price may move upwards with the target of 1.2360 - a 50.0% pullback level (presented in a red dashed line).

Another possible scenario is a downward trend from the resistance line 1.2275 (presented in a red bold line) with the target at the lower fractal 1.2077 (presented in a red dashed line).

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