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20.05.202109:08 Forex Analysis & Reviews: Hot forecast for EUR/USD on May 20, 2021

Esta información se proporciona a clientes minoristas y profesionales como parte de comunicación de marketing. No contiene y no debe interpretarse como asesoramiento o recomendación de inversión o una oferta o solicitud para participar en cualquier transacción o estrategia en instrumentos financieros. El desempeño pasado no garantiza o predice el desempeño futuro. Instant Trading EU Ltd. no asume ninguna representación ni responsabilidad sobre la precisión o integridad de la información proporcionada, o cualquier pérdida que surja de cualquier inversión basada en el análisis, pronóstico u otra información proporcionada por un empleado de la Compañía o de otra manera. El descargo de responsabilidad completo está disponible aquí.

The Federal Reserve System still does not see any inflationary risks, and as follows from the content of the text of the minutes of the meeting of the Federal Commission on Open Market Operations, the rise in consumer prices is purely temporary. What is much more important is that the American regulator sees no reason to change the parameters of the monetary policy being pursued. Moreover, from the point of view of the Federal Reserve System, until the economy recovers, it is quite dangerous to take such steps. This is what caused a rather serious weakening of the single European currency. After that, the market went into a pronounced sideways movement, waiting for new trading ideas.

Exchange Rates 20.05.2021 analysis

The only thing that is published today is data on applications for unemployment benefits, which is unlikely to affect anything. The fact is that the number of initial requests may be reduced by 22 thousand, and repeated ones by 55 thousand. The total reduction of 77 thousand is quite modest, and does not change the situation in the labor market. Even if we approach it from a formal point of view, saying that we are still talking about reducing the number of applications for benefits, then the potential decline in the single European currency will be purely symbolic.

Number of initial applications for unemployment benefits (United States):

Exchange Rates 20.05.2021 analysis

During the last trading day, the EUR/USD currency pair showed downward activity, after a series of upward impulses. The level of 1.2250 serves as a resistance, while the level of support in the retracement stage is the area of 1.2165 / 1.2180. Market dynamics have signs of acceleration, which is confirmed by the structure of price candles, as well as the growth of speculative transactions in the market.

If we proceed from the current location of the quote, there is a horizontal amplitude movement of the price within the boundaries of 1.2165 / 1.2185.

In this situation, it can be assumed that the amplitude movement will lead to the accumulation of trading forces, and this causes abundant attention from speculators. Coordinates 1.2185 are considered as reference levels where acceleration can occur when considering buy positions and 1.2160 when considering sell positions.

From the point of view of complex indicator analysis, it can be seen that the indicators of technical instruments on the minute and hour intervals have a neutral signal due to the accumulation process. The daily period, as before, indicates an upward price movement, signaling a buy.

Exchange Rates 20.05.2021 analysis

Desarrollado por un Dean Leo
experto de análisis de InstaForex
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