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Overview:
If the pair does not break/hold the 1.3544 level and continues to trade below these levels, it is likely to return to 1.3305 and 1.3212 level. In summary, the pair is still bearish and has a medium term downside trend despite recovery attempts.
Recommendation:
If you are in sell you can close your positions in between 1.3351 level and 1.3305 and the same range is suitable for buying as well.
If you are in buying then the suitable level range will be from 1.3505 to 1.3544 and this range is almost same for selling as well.
Trends:
Near Term: Downward
Short Term: Sideways
Medium Term: Sideways
Warning:
Analysis and technical levels are provided only for the educational and informative purposes. Please also check fundamental analysis before opening every single position. Keep yourself away from the market if market is volatile. Always try to open positions with good price level. Remember Forex is like fishing not like hunting.
Money Management Warning:
Never use more than 2 or 3% of your equity in each trade:
For Example 2% of 1000 USD is 20$ and if your stop is 50 pips then your lot size will be calculated as 20$/50 = 0.4 of insta lot which means it will be about 40 cents and similarly if your stop level is 100 pips than lot size will be calculated as follow 20$/100 = 0.2 Insta lots it will be about 20 cents.
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.
