As the closing of the trading week occurred at its highs, euro purchases remain a priority. To continue growth, it is enough to form a shallow correction, which will allow you to re-enter purchases. Holding on to previously opened purchases is the most profitable strategy, since growth may stop after the test of the 1.1840 level. This mark serves as the rotation level, which alternately marks an increase in purchases and sales. It will be necessary to consolidate above this mark by the time of the current week’s trading close for the growth to resume.
Today, there was a transition in margin requirements on the Chicago Stock Exchange. The size of the required margin increased by $400, which implies an increase in volatility in the near future. It is necessary to rebuild all the control zones that were not worked out last week.
When building an intraday trading plan, special attention should be paid to the formation of a daily engulfing candle. This indicates a high probability of the pair’s continued growth in the next two days, which makes purchases profitable.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.