Trend analysis (Fig. 1).

Today, the market from the level of 1.3223 (closing of yesterday’s daily candlestick) can continue to work down with the goal of 1.3163 – a pullback level of 23.6% (red dotted line). After testing this line, continue working down with the target of 1.3070 – a pullback level of 38.2% (red dotted line). Upon reaching this level, upward work is possible.

analytics5facaaaf7c339.jpg

Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis – down;
  • Fibonacci levels – down;
  • Volumes – down;
  • Candlestick analysis – down;
  • Trend analysis – up;
  • Bollinger bands – up;
  • Weekly chart – down.

General conclusion:

Today, the price from the level of 1.3223 (closing of yesterday’s daily candlestick) can continue to work downward with the goal of 1.3163 – a pullback level of 23.6% (red dotted line). After testing this line, continue working down with the target of 1.3070 – a pullback level of 38.2% (red dotted line).

Alternative scenario: when moving down and reaching the pullback level of 23.6% – 1.3163 (red dotted line), the market will try to move up with the goal of 1.3251 – the historical resistance level (blue dotted line).

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

Leave your vote

🚀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.