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20.05.201909:52 Forex Analysis & Reviews: Indicator analysis. Daily review on May 20, 2019 for the currency pair EUR / USD

Long-term review
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On Friday, the market in both currencies continued its downward movement. However, if the GBP / USD pair moved down, relying on fundamental analysis, the EUR / USD pair will be in the standby mode, and the traders will not decide where to go further, and what to break through - the support or resistance line. On Monday, strong calendar news is not expected.

Trend analysis (Fig. 1).

Today, the price can continue to move down with the goal of 1.1147 - the support line (blue bold line). Upon reaching this level, it is possible to continue the downward movement with the goal of 1.1112 which is the lower fractal.

Exchange Rates 20.05.2019 analysis

Fig. 2 (daily schedule).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger lines - down;

- weekly schedule - down.

General conclusion:

On Monday, technical analysis demonstrates a downward movement. The first lower target of 1.2662 is the pullback level of 76.4% (blue dashed line).

Stefan Doll
Analytical expert of InstaForex
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