Trend analysis (Fig. 1).

Today, the market will try to continue moving up from the level of 1.2070 (the closing of yesterday’s daily candle) to reach the pullback level of 76.4% at 1.2101 (yellow dotted line). After reaching this level, further work up with the target of 1.2262 which is the level of 161.8% (blue dotted line).

analytics5fc73b52986ea.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 – up

General conclusion:

Today, the price may continue to move up to reach the pullback level of 76.4% at 1.2101 (yellow dotted line). After reaching this level, further work up with the target of 1.2262 which is the level of 161.8% (blue dotted line).

Alternative scenario: When moving up and reaching the pullback level of 76.4% at 1.2101 (yellow dotted line), the price may start moving down to the pullback level of 14.6% at 1.2012 (red 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.