Trend analysis (Fig. 1).
Today, the market from the level of 1.3187 (closing of Friday’s daily candlestick) may continue to move upward with the goal of 1.3231 – a pullback level of 61.8% (blue dotted line). When testing this level, continue working upward with the goal of 1.3282, which is a pullback level of 85.4% (blue dotted line).
Figure 1 (Daily Chart).
- Indicator analysis – up
- Fibonacci levels – up
- Volumes – up
- Candlestick analysis – down
- Trend analysis – up
- Bollinger bands – up
- Weekly chart – up
The price will try to continue moving upward today with the target of 1.3282 – the resistance line (white bold line). When testing this line, continue working up with the target of 1.3310-the upper fractal (red dotted line).
Alternative scenario: from the level of 1.3187 (closing of the Friday’s daily candlestick), the price may start moving upward with the goal of 1.3231 – a pullback level of 61.8% (blue dotted line). When testing this level, work downward with a target of 1.3159, which is a pullback level of 23.6% (red dotted line).
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.