MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis for EURUSD for May 24, 2019

After an impressive 4 hour reversal candle pattern yesterday, EURUSD is now moving higher confirming our bullish expectations as we noted in our last analysis. We singled out the long bullish candlestick yesterday and we said that this was a reversal pattern. A follow through would be bullish for EURUSD.

analytics5ce84a8ead4d3.png

Red line - resistance trend line

Red rectangle - bullish reversal 4 hour candlestick pattern

EURUSD is trading above 1.12 today near the week highs. Having started the week on a weak note, yesterday's 4 hour candle inside the red rectangle was a clear sign of reversal. There are many chances that a major low is in for EURUSD. However in order to be sure, we will need price to break and stay above 1.1260. Resistance is found at 1.1230 at the upper channel boundary also shown by the red line in the chart above. Previous high at 1.1260 is also important resistance so clearing both of these levels will open the way for a much bigger bounce.

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