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Forex Analysis & Reviews: 20.05.2022

Relevance up to 13:00 UTC + 00

Technical analysis:

Exchange Rates 20.05.2022 analysis

BTC has been trading sideways at the price of $ 30,200 in the well defined trading range. Watch for potential breakout to confirm further direction.

Trading recommendation:

If the price breaks the pivot low at $ 28,600, there is potential for bigger drop towards $ 25,540. Under this condition selling will be preferable.

If the price breaks the pivot high at $ 32,500, there is potential for a rally towards $ 34,200. Buying opportunities will be preferable under this condition.

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

Petar Jacimovic,
Analytical expert of InstaForex
© 2007-2022

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