The Australian dollar traded with a range of 30 points yesterday, closing the day near the area where it opened. The price divergence continues to operate with the Marlin oscillator, support for the aussie is the MACD line on the daily chart at 0.7262. Overcoming support will pull down the price. The first target is the November 12 low at 0.7222. Getting the pair to settle below the level will open the way to 0.7120.
Nevertheless, we formally have an ascending trend – the price is above the indicator lines, while Marlin is in the growth zone. Accordingly, the probability that the price will rise to 0.7380 is about 40-45%.
The four-hour chart shows that the declining potential is stronger. The price breaks below the MACD line and the balance line. Getting the pair to settle below them will lead to a decisive attack to the MACD line (0.7262) on the daily scale, if successful, the nearest target at 0.7222 will open. The Marlin oscillator is trying to overcome the border of the bears’ territory on the four-hour chart.
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.