Trading Conditions
Products
Tools
Trend analysis (Fig. 1).
Today, the market from the level of 1.1856 (closing of yesterday's daily candlestick) will try to start moving upwards in order to test the retracement level of 14.6% - 1.1908 (blue dotted line). Upon reaching this level, the price may continue to move upward with the target at 1.1946 - the 23.6% retracement level (blue dashed line). And then, from this line, it is likely to move upward with the target at 1.1971 - the resistance line (white thick line).
Figure 1 (Daily Chart).
Comprehensive analysis:
General conclusion:
Today, the market from the level of 1.1856 (closing of yesterday's daily candlestick) will try to start moving upwards in order to test the retracement level of 14.6% - 1.1908 (blue dotted line). Upon reaching this level, the price may continue to move upward with the target at 1.1946 - the 23.6% retracement level (blue dashed line). And then, from this line, it is likely to move upward with the target at 1.1971 - the resistance line (white thick line).
Alternative scenario: from the level of 1.1856 (closing of yesterday's daily candlestick), the price may start moving down with the target at 1.1836 - the 76.4% retracement level (red dotted line). Upon reaching this level, it may start moving upward with the target at 1.1908 - the 14.6% retracement level (blue dashed line).
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.