empty
22.05.2019 09:33 AM
Forecast for EUR/USD and GBP/USD on May 22. A short spurt up ended with an equivalent fall for the euro and the pound

EUR/USD – 4H.

This image is no longer relevant

Yesterday, the euro/dollar pair performed a return to the retracement level of 100.0% (1.1177), after the formation of a bullish divergence at the CCI indicator, a retreat from this level and a reversal in favor of the US currency. As a result, on May 22, the process of falling of quotations can be continued towards retracement level of 127.2% (1.1102). Despite the bullish divergence, traders again showed a very weak desire to buy the euro. This is exactly what the rebound from the Fibo level of 100.0% indicates. Important news affecting the euro or the dollar did not appear yesterday. In general, the desire of traders to actively trade is low. Closing the pair above the Fibo level of 100.0% will still work in favor of the euro and will allow traders to expect some growth in the direction of the retracement level of 76.4% (1.1241). Today will be an important speech by ECB President Mario Draghi. This will happen at 07:30 GMT. Mario Draghi can touch on issues of monetary policy, trade relations with America and other important issues, and traders can note the opening of purchases or sales, which will lead to increased activity in the Forex market.

The Fibo grid built on the extremums of March 7, 2019, and March 20, 2019.

Forecast for EUR/USD and trading recommendations:

The EUR/USD pair continues to show a desire to continue the process of falling (rebound from the Fibo level of 100.0%) towards the level of 1.1102. Thus, I recommend selling the euro for this purpose, with a protective order above the Fibo level of 100.0%. I recommend buying the pair after the close above retracement level of 100.0% to the level of 1.1241.

GBP/USD – 4H.

This image is no longer relevant

The pound/dollar quotes returned to the retracement level of 38.2% (1.2765), rebound from it and turn in favor of the US currency. The picture is identical to the picture of the euro/dollar pair. The sellers of the pound keep the market in their hands. Yesterday's outburst of emotions could be just an accident, an attempt of buyers to quickly and sharply change the trend for the pair. Thus, on May 22, the GBP/USD pair is expected to continue falling in the direction of the retracement level of 23.6% (1.2639). I draw your attention to the release of news about inflation and the retail price index for April in the UK today. The inflation forecast is high – 2.2%, which may cause a new demand for the pound sterling. Although the US currency still looks much stronger, mainly due to the situation around Brexit.

The Fibo grid is built according to the extremes of September 20, 2018, and January 3, 2019.

GBP/USD – 1H.

This image is no longer relevant

The hourly chart for GBP/USD also shows the resumption of the fall after the growth to the nearest Fibo level. However, on the hourly chart, the further fall of the pound/dollar pair depends on the willingness and ability of traders to close under the retracement level of 161.8% (1.2673). If the closure is completed, the fall will continue in the direction of the retracement level of 200.0% (1.2554). Theresa May said yesterday that the second referendum on Brexit is possible, but there are a lot of different "ifs" for its holding. And of course, the main condition for its implementation should be the adoption of its agreement by the Parliament in the first reading. Thus, traders did not consider this speech as a positive moment for the pound sterling and are preparing for new sales of the weakest currency of 2019.

The Fibo grid is built on the extremes of April 25, 2019, and May 3, 2019.

Forecast for GBP/USD and trading recommendations:

The GBP/USD pair continues the process of falling, so I recommend to sell the pair with the target of 1.2554 with the stop loss order above the level of 161.8% with the target of 1.2554. I recommend buying the pair in very small volumes at the rebound from the Fibo level of 161.8% (hourly chart) with a target of 1.2782 and a protective order at the level of 161.8%.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Bitcoin. El fortalecimiento del dólar podría dar un giro bajista al mercado de criptomonedas

Hoy, el mercado se centrará en la publicación del informe sobre la inflación en Estados Unidos, que se espera que muestre no solo que ha dejado de bajar, sino

Pati Gani 13:12 2025-06-11 UTC+2

Bitcoin. El logro de nuevos máximos puede detenerse

El precio del Bitcoin superó momentáneamente el nuevo nivel histórico de 111 000, pero no logró consolidarse por encima de él. El apoyo proviene, tanto para él como para

Pati Gani 10:53 2025-05-22 UTC+2

EUR/USD. El 12 de mayo. El conflicto en Ucrania podría llegar a su fin.

Buenos días, estimados traders. El par EUR/USD el viernes subió hacia la zona de resistencia 1,1265 – 1,1282, rebotó desde allí y giró a favor del dólar estadounidense. El proceso

Samir Klishi 10:27 2025-05-12 UTC+2

Pronóstico para el gas al 8 de abril de 2025

Gas natural (NG) Ni al final de la semana pasada, ni mucho menos al comienzo de la actual, la cotización del gas natural logró superar la resistencia de 4.200, reforzada

Laurie Bailey 08:11 2025-04-08 UTC+2

Pronóstico del gas para el 17 de marzo de 2025

Gas natural (NG) La jornada de hoy se abrió por encima de la línea indicadora Kruzenshtern en el marco diario. Al mismo tiempo, el oscilador Marlin cambió de dirección hacia

Laurie Bailey 07:02 2025-03-17 UTC+2

Pronóstico para el Bitcoin el 21 de febrero de 2025

Bitcoin El Bitcoin ha cambiado de opinión sobre el desarrollo de una caída hacia soportes objetivos cómodos, y en su lugar, siguiendo el sentimiento de riesgo general, ha revertido desde

Laurie Bailey 07:23 2025-02-21 UTC+2

Bitcoin - análisis técnico de la situación

Viernes, y el Bitcoin sigue esperando. Ninguna de las partes enfrentadas tiene prisa por presentarse y ser activa. En la incertidumbre actual, el posicionamiento de los principales índices de referencia

Evangelos Poulakis 07:45 2025-02-14 UTC+2

Previsión para el gas natural (GN) del 5 de febrero de 2025

En el gráfico semanal la semana pasada el precio se revirtió desde el nivel de soporte 3.017 - desde los máximos de septiembre 2024, agosto 2023, febrero 2023 y también

Laurie Bailey 07:51 2025-02-05 UTC+2

#NDX - análisis técnico de la situación

A finales del año pasado, el índice marcó un nuevo máximo histórico (22141), tras lo cual se detuvo la subida, comenzó la formación de la corrección y la consolidación. Ahora

Evangelos Poulakis 07:24 2025-02-04 UTC+2

Bitcoin 30 Enero - análisis técnico de la situación

A pesar de marcar un nuevo máximo la semana pasada (109986), el Bitcoin detuvo su tendencia alcista y comenzó a formar incertidumbre. Hasta ahora, el formato semanal ha proyectado

Evangelos Poulakis 07:24 2025-01-30 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.