Indicator analysis. Daily review for May 21, 2019 for EUR/USD and GBP/USD currency pairs

On Monday, the market in both currencies moved to the side channels. The GBP / USD pair opened with a gap upwards, and then they tried to close it all day. On the other hand, the EUR / USD pair remained in a standby mode. Traders could not decide in any way where to go further, or what to break through – either the line of support or resistance. On Tuesday, strong calendar news comes out at 8.30 and 14.00 Universal time.

Trend analysis (Fig. 1).

Today, the price can continue to move downwards with the target of 1.1147 – the support line (blue bold line) and further movement downwards with the target of 1.1112 – 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 Tuesday we are waiting for the continuation of the downward movement. The first lower target of 1.2662 is the pullback level of 76.4% (blue dashed line).

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

Source:: Indicator analysis. Daily review for May 21, 2019 for EUR / USD and GBP / USD currency pairs

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