Trend Analysis (Fig. 1).
Today, the market will try to continue going down from the level of 1.2042 (the closing of yesterday’s daily candle) in order to reach the retracement level of 50% – 1.1975 (the red dotted line). Upon reaching this level, there will be a work going down with a target of 1.1907 support line (white thin line).
Figure 1 (daily chart).
– Indicator Analysis – down
– Fibonacci Levels – down
– Volumes – down
– Candle Analysis – down
– Trend Analysis – down
– Bollinger Bands – down
– Weekly Chart – down
Today, the price may continue to go down in order to reach the retracement level of 50% – 1.1975 (red dotted line). Upon reaching this level, there will be a work going down with a target of 1.1907 support line (white thin line).
Alternative scenario: when moving down and reaching the lower fractal of 1.2011 (daily candle from 02/02/2021) in the future, the upper work with the target of 1.2102 – a retracement level of 74.4% (yellow 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.