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Long-term review

On Thursday, the market in both currencies moved in different directions.

The GBP / USD pair has gradually shifted to the side channel after a strong trend. The first sign of a pullback. The rollback level of 76.4% - 1.2662 (blue dashed line) was retested.

The EUR / USD pair, moving down before lunch, tested the lower fractal - 1.1108 (yellow dotted line). But then, the most interesting thing happened. Having gone up to the pullback, the price received a powerful support in the form of a foundation. As a result - a rally upwards by 81 points.

On Friday, strong calendar news come out at 8.30 (pound), 12.30 (US dollar) Universal time.

Trend analysis (Fig. 1).

Today, the price will continue to move upward with the first target of 1.1204 (blue dashed line) - the pullback level of 61.8% and then move further upwards to the resistance line of 1.1234 (white thin line).

Exchange Rates 24.05.2019 analysis

Fig. 2 (daily schedule).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger lines - down;

- weekly schedule - down.

General conclusion:

On Friday, we are expecting a pullback upward movement. The first upper target of 1.2689 is the pullback level of 14.6% (yellow dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Stefan Doll,
Analytical expert
InstaForex Group © 2007-2019
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