31.05.201909:23 Forex Analysis & Reviews: Indicator analysis. Daily review as of May 31, 2019 for EUR / USD and GBP / USD currency pairs

Long-term review

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.

On Wednesday, the market in both currencies was moving down.

The GBP / USD pair, while moving down, reached the lower fractal of 1.2605 (red dotted line), but closed above this level.

The EUR / USD pair, while moving down, tested the pullback level of 76.4% - 1.1134 (yellow dotted line) and closed slightly lower.

On Friday, strong calendar news is not expected.

Trend analysis (Fig. 1)

Today, the price will start a pullback upward movement with the first target of 1.1155 - the pullback level of 38.2% (blue dashed line).

Fig. 2 (daily schedule).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger lines - up;

- weekly schedule - down.

General conclusion:

On Friday, we are waiting for the start of the upward movement with the first goal of 1.2668 - a pullback level of 14.6% (yellow dotted line).

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.