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.

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).

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