Binary Options Signals for May 20
Good morning fellow traders. Let’s consider the main binary options signals for today.
News to look out for:
Economic Calendar
Signal for the EURUSD pair
Analysis H 4:
- General trend: downward.
- Nearest strong levels:
- Resistance: 1.1215; 1.1280;
- Support: 1.1140.
- MACD: in the negative zone.
- RSI: exits the oversold zone.
Recommendations: given the end of the trading week and price consolidation near the level of 1.1215, it is worth looking for entry points to sell on the M 5 – H 1 timeframes.
Signal for the GBPUSD pair
Analysis H 4:
- General trend: upward.
- Nearest strong levels:
- Resistance: 1.4600; 1.4620; 1.4655;
- Support: 1.4535.
- MACD: in the positive zone.
- RSI: decreasing and exiting the overbought zone.
Recommendations: after the recent upward momentum, the price has started a pullback to the level of 1.4535. The development of the trend can be expected from Monday. Today, it is better to refrain from trading on this pair (or enter sales with a short expiration date).
Signal for the USDJPY pair
Analysis H 4:
- General trend: upward.
- Nearest strong levels:
- Resistance: 110.35; 111.20.
- support: 109.70; 109.20.
- MACD: in the positive zone.
- RSI: rises and enters the overbought zone.
Recommendations: most likely, the upward momentum will enter the correction phase today, so it is necessary to look for sell entry points on the M 5 – H 1 timeframes.
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