The proximity of the target weekly control zone indicates the probability of formation of corrective or reversal patterns. A test of the 1.3381-1.3333 range will indicate a further priority at the end of November. If the reaction is the formation of the absorption pattern, then sales will come to the forefront tomorrow.
Do not forget that to break the medium-term momentum, you will need to form an absorption pattern at a level no lower than D1. Without such a model, you should not expect a long drop.
The priority remains growth and consolidation above the weekly short-term limit. In order to continue to hold some of the purchases, you will need to close today’s trading within the control zone or above it. This will allow you to enter a long position again in the future, although at less favorable prices.
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.