Evening review for May 18, 2020

By | May 18, 2020
InstaForex
Evening review for May 18, 2020

Relevance up to 10:00 2020-05-19 UTC–5

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EURUSD:

As you can see, there is a new attempt to go up from the range.

The pair broke through 1.0900 upwards.

You may buy the euro from 1.0855 with a stop at 1.0810. However, in principle, if it is very unfortunate to give the market a stop, you can transfer the stop to 1.0835, which is 20 stop points. This is almost breakeven.

The reason for the euro’s attempts to grow is first, Europe has clearly passed the peak of the pandemic, thus, the economy is launching actively and will start by June 1. This is basically faster than in the US. Second, the euro was quite cheap even before the crisis with an equilibrium price of somewhere around 1.2500.

We continue observing.

*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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