Trend analysis (Fig. 1).

Today, the market from the level of 1.1776 (the closing of yesterday’s daily candle) can start moving up with the goal of 1.1814 which is a pullback level of 76.4% (blue dotted line). When testing this level, further work up with the goal of 1.1858 which is the resistance line (white bold line).

analytics5facd6a0672b8.jpg

Figure 1 (daily chart).

Complex analysis:

  • Indicator Analysis – up
  • Fibonacci Levels – up
  • Volumes – up
  • Candle Analysis – up
  • Trend Analysis – up
  • Bollinger Bands – up
  • Weekly Chart – down

General conclusion:

Today, the market from the level of 1.1776 (the closing of yesterday’s daily candle) can start moving up with the goal of 1.1814 which is a pullback level of 76.4% (blue dotted line). When testing this level, further work up with the goal of 1.1858 which is the resistance line (white bold line).

Alternative scenario: From the level of 1.1781, which is a pullback level of 61.8% (blue dotted line), the price can continue to move down with the goal of 1.1761 which is a pullback level of 50.0% (red dotted line). When testing this level, further work down with the goal of 1.1723 which is a rollback level of 61.8% (red dotted line).

The material has been provided by InstaForex Company – www.instaforex.com

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