empty
 
 

Forex Analysis & Reviews: Forecast for EUR/USD on May 20, 2022
time 20.05.2022 04:50 AM
time Relevance up to, 21.05.2022 04:39 AM

Yesterday, the euro defied our main plan, suggesting a decline towards 1.0340, but it failed to break the resistance of the upper limit of the 1.0493-1.0600 range. If the price still manages to settle above the level of 1.0600, then the corrective growth may continue to the MACD line, to the area of 1.0710. Formally, the Marlin Oscillator, which has already moved into the positive area, can help the price, but there is a high risk of its quick return to the zero line, that is, form a false signal.

This image is no longer relevant

On the H4 chart, the price reversal from the level of 1.0600 has not yet been expressed. The Marlin Oscillator is not ahead of the price, while it is in the positive area. If the reversal takes place, it will not be fast, it may take two days to exit the range downwards. But this is our main scenario.

This image is no longer relevant

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
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.

  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Trading Signal for Gold (XAU/USD) on December 02-05, 2022: sell if pullback at $1,812 or below $1,804 (+2/8 Murray - bullish channel)

Early in the European session, Gold (XAU/USD) is trading at 1,798, below the top of the bullish channel and showing some technical correction after a bullish rally during the American

Dimitrios Zappas 05:03 2022-12-02 UTC+2

Forecast for EUR/USD on December 2, 2022

In anticipation of today's US jobs data, on the back of Federal Reserve Chairman Jerome Powell's seemingly not obvious dovish speech, the euro rose 119 pips yesterday. The price crossed

Laurie Bailey 04:37 2022-12-02 UTC+2

Forecast for GBP/USD on December 2, 2022

The pound is trying really hard (and possibly due to recklessness) to work using the expected weakness of the Federal Reserve and today's US jobs data. The forecast

Laurie Bailey 04:37 2022-12-02 UTC+2

Forecast for AUD/USD on December 2, 2022

The Australian dollar rose above the 0.6799 level yesterday, the November 15 peak. Target levels have been changed. Now the price is building strength to advance to 0.6917, the September

Laurie Bailey 04:37 2022-12-02 UTC+2

Trading Signal for GBP/USD on December 01-02, 2022: sell if pullback at 1.2267-1.23 (+2/8 Murray - bullish channel)

According to the 4-hour chart, the British pound has strong resistance at the area of 1.2267 (top of the bullish channel) and at 1.23 (daily R_3). If the pound reaches

Dimitrios Zappas 17:13 2022-12-01 UTC+2

Short-term technical analysis on Gold for December 1st, 2022.

Gold price is again in a short-term bullish momentum. Price broke yesterday above the key resistance of $1,763 and provided us with a new bullish signal. Today price is challenging

Alexandros Yfantis 15:17 2022-12-01 UTC+2

Wave analysis on USDJPY for December 1st, 2022.

Following our November wave analysis on USDJPY, we finally see the 5th wave down to new lows as initially expected. Short-term trend remains bearish as price continues making lower lows

Alexandros Yfantis 14:46 2022-12-01 UTC+2

EUR/USD: technical analysis on December 1, 2022

Hello, dear traders! On Wednesday, EUR/USD dropped to 1.0315, rebounded, and went up to the 200.0% Fibonacci level of 1.0430. In case of a pullback, the pair will reverse

Samir Klishi 13:10 2022-12-01 UTC+2

GBP/USD. December 1. Powell makes predictable comments but manages to send USD lower

On Wednesday, the GBP/USD pair reversed and started to grow on the hourly chart. At the moment, the British pound approached and fixed above the correctional level of 127.2%

Samir Klishi 12:46 2022-12-01 UTC+2

Video market update for December 01, 2022

Watch for buying opportunities on the intraday dips on GBP and BTCUSD and Gold

Petar Jacimovic 12:39 2022-12-01 UTC+2
Can't speak right now?
Ask your question in the chat.