Let’s have a look at the economic calendar.
EUR/USD: forecast for May 22-16
EUR/USD broke above the weekly Ichimoku Cloud, which is currently acting as support at 1.1057. The triple bottom with the neckline around 1.0830 allows an expansion to 1.1300 and probably further. The euro rose past 61.8% Fibo of 2016 decline at 1.1130. The next Fibonacci level is located at 1.1350.
Watch and find out how to trade EUR/USD and GBP/USD ahead of the ECB statement!
The market sentiment improved based on an ease of the trade war tensions between China and the US.
What if there's no uptrend or downtrend at the market? How to make money in a sideways market? FBS analyst Elizabeth Belugina will show you how to trade in ranges…