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23.05.201908:11 Examiner les analyses forex: Indicator analysis. Daily review for May 23, 2019 for EUR / USD and GBP / USD currency pairs

Long-term review
Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

On Tuesday, the market in both currencies moved down.

For the pair GBP / USD, the price moved down confidently, testing the rollback level of 76.4% - 1.2662 (blue dashed line).

For the EUR / USD pair, it moved down in the side channel, tested the support line - 1.1150 (blue bold line) once again. The question of breaking through this support line is still open. On Wednesday, strong calendar news come out at 6.00, 7.30, 8.00 (euro), 8.30 (pounds), 11.30 (euro), 14.00 (dollars) Universal time.

EUR / USD pair

Trend analysis (Fig. 1).

Today, the price after testing the support line 1.1150 (blue dotted line), can continue to move down with the target of 1.1125 - the lower border of the Bollinger Line indicator (black dotted line), and go further with its downward movement with the target of 1.1112 - lower fractal.

Exchange Rates 23.05.2019 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 Thursday, we are waiting for the continuation of the downward movement. The first lower target of 1.2578 is the lower border of the Bollinger Line indicator (black dashed line).

Stefan Doll
Analytical expert of InstaForex
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