Indicator analysis. Daily review for May 16, 2019 for the EUR / USD pair

On Wednesday, instead of the bottom, the market worked in the side channel (unexpectedly strong news at 17.15 Moscow time corrected the market). The price reached the pullback level of 1.1188 (yellow dotted line), but did not go further down. On Thursday, strong calendar news comes out at 15.30 Moscow time.

Trend analysis (Fig. 1).

Today, the price can roll back up with a target of 1.1221 – a pullback level of 50% (blue dashed line). In the case of a breakthrough, the further upward movement with the target of 1.1232 is the pullback level of 61.8% (blue dashed line).

Fig. 1 (daily schedule).

Comprehensive analysis:

– indicator analysis – up;

– Fibonacci levels – up;

– volumes – up;

– candle analysis – top;

– trend analysis is neutral;

– Bollinger lines – down;

– weekly schedule – up.

General conclusion:

Today, the price can roll back up with a target of 1.1221 – a pullback level of 50% (blue dashed line). In the case of a breakthrough, the further upward movement with the target of 1.1232 is the pullback level of 61.8% (blue dashed line).

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Indicator analysis. Daily review for May 16, 2019 for the EUR / USD pair

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