Forecast for EUR/USD on May 18, 2020

By | May 18, 2020
InstaForex
Forecast for EUR/USD on May 18, 2020

Relevance up to 22:00 2020-05-18 UTC–5

EUR/USD

The euro slightly grew last Friday, blocking Thursday’s fall of 14 points. The quote is nearly unchanged today in the Asian session, and the euro will probably stand idle all day waiting for tomorrow’s EU summit (ECOFIN), which will consider a trillion-dollar package of economic assistance in the form of loans and grants. The final size of the fund and its proportional distribution will obviously affect investor sentiment. At the moment, expectations are optimistic, which can be seen even from a technical point of view; The euro is below the indicator lines, but is growing, the signal line of the Marlin oscillator is moving along the border dividing the growth zone from the decline zone in potential (leading) market trends. Growth potential is the upper boundary of the horizontal band that has been running since April, at 1.0995.

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The price went above the balance (red) and MACD (blue) indicator lines on the four-hour chart, the Marlin oscillator pinned in the positive trend zone. The immediate goal for growth is the peak of May 13 at the price of 1.0897. Trading in any direction in a local situation today carries a risk of uncertainty.

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

Performed by Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2020

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