Trend analysis (Fig. 1).
Today, the market may continue to move downward from the level of 1.2121 (closing of Friday’s daily candlestick), with the first lower target – a pullback level of 14.6%, 1.2093 (red dotted line). If this line is tested, we can expect the continuation of the upper work with the target of 1.2177 – the resistance level (blue bold line).
Figure 1 (Daily Chart).
- Indicator analysis – down
- Fibonacci levels – down
- Volumes – down
- Candlestick analysis – down
- Trend analysis – down
- Bollinger bands – down
- Weekly chart – down
Today, the price may continue to move downward with the target of the pullback level of 14.6%, 1.2093 (red dotted line). If this line is tested, we can expect the continuation of the upper work with the target of 1.2177 – the resistance level (blue bold line).
Alternative scenario: from the level of 1.2121 (closing of the Friday daily candlestick), the pair may work downward in order to reach the pullback level of 14.6%, 1.2093 (red dotted line). If this line is tested, we can expect the lower work to continue with the target of 1.2072 – the historical support level (blue 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.