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21.05.201906:47 Forex Analysis & Reviews: Forecast for EUR/USD on May 21, 2019

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

On Monday, the euro slightly wavered on supporting the Fibonacci level 110.0% of the movement branch from September 24 to November 12 of the previous year. The delay made it possible for the marlin oscillators on the daily and H4 charts to discharge even more, in order to continue the decline with new forces. Yesterday, data showed that the balance of payments in the eurozone showed a deterioration from 27.9 billion euros to 24.7 billion in March, today home sales in the secondary real estate market in the US are expected to increase from 5.21 million to 5.35 million in April.

We expect the euro to further decrease. After overcoming the support of 1.1155, a target of 1.1075 will open - the Fibonacci level is 123.6%.

Exchange Rates 21.05.2019 analysis

Exchange Rates 21.05.2019 analysis

Laurie Bailey
Analytical expert of InstaForex
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