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21.05.201811:26 Forex Analysis & Reviews: The daily review of the currency pair EUR / USD for May 21, 2018. Ichimoku Indicator

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR / USD

Exchange Rates 21.05.2018 analysis

Now, the strength and benefits are still on the players' side to downgrade. The pair continues to decline, limiting itself to its path with only minimal adjustments. At the moment, we are seeing an approach to support, joining forces at the boundaries of 1.1700 (monthly Fibo Kijun 62 1.1708 + month Senkou Span A 1.1670 + week Senkou Span A 1.1696). As noted earlier, this area is the main target of the current decline, so it is possible to break, as well as the development of a full-scale upward correction. The initial stage of the correction may be a rise to the resistance of the Tenkan N4 + Kijuna N1, now it is the area of 1.1770, further interest will be the breakdown of the H1 cloud and the dead cross N4, the target benchmark of the full correction is the daytime Tenkan (current value 1,1856) and the performance of the upward targets for the breakdown of the cloud H1.

Resistance: 1.1770 - 101808 - 101856.

Supports: 1.1700 - 1.1670.

Exchange Rates 21.05.2018 analysis

Indicator parameters:

All time intervals 9 - 26 - 52

The color of indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun is a green dotted line,

Chinkou is gray,

Clouds: Senkou Span B (SSB, long-term trend) - blue,

Senkou Span A (SSA) - pink.

The color of additional lines:

Support and resistance MN - blue, W1 - green, D1 - red, H4 - pink, H1 - gray,

Horizontal levels (not Ichimoku) - brown,

Trend lines - purple.

Evangelos Poulakis
Analytical expert of InstaForex
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