Market Review 18/05/2020

by Constantinos Loizou

Crude Oil

Today: +2.67%

Last week: +15.97%


Dow Jones

Today: +1%

Last week: -2.46%


DAX 30

Today: +1.57%

Last week: -4.17%



Today: +1.14%

Last Week: +2.30%


On the Charts


  • As we can observe on the NZD/CHF Daily Chart, the price has formed a double top formation.
  • The price now is below the 20 days moving average (green), the upward trendline (blue) and the neckline of the formation (black).
  • The price is now at 0.57800, and after the breakout of the neckline it is retesting it.
  • The RSI* has also formed a double top formation, confirming the price, and is now at 42.
  • The MACD* is below 0.
  • Considering the above, if the price closes below the black line, we may see it continue lower, at 0.55700, a price level which consist the target of our formation and the 61.8% Fibonacci Retracement Level (From 0.52966 to 0.59976).