Daily review on EUR/USD for May 19, 2020

By | May 19, 2020
InstaForex
Daily review on EUR/USD for May 19, 2020

Relevance up to 06:00 2020-05-20 UTC–5

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As we see in the daily chart above, the EUR / USD rate has reached a zone of very strong resistance. The resistance line of the downward trend demanded a 100-day average, which became a strong resistance for many times on the way up, including in March and April of this year. If the euro manages to go up the range of 1.0960-1.1020 and conquer the day higher, the euro will continue to grow to 1.1400-1.1500

You may keep purchases from 1.0855, stop at 1.0835. The first goal, 1.0955, is reached.

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As observed on the EUR4D chart of the H4 scale, there is a good entry level for purchases from 1.0880.

Stop at 1.0835 with a target at 1.0980.

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

Performed by Sam Alan,
Analytical expert
InstaForex Group © 2007-2020

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