Yesterday, the dollar rallied and overcame the resistance of the embedded line of the price channel of the higher timeframe, slightly overlapping with the 105.40 target. After being able to settle above the level, the price will move to the target range of 106.50/65, which is set by the lows of July 10, 2020 and October 3, 2019. But the price may initially correct to the downside, as warned by the Marlin oscillator, which is already unfolding from the top that was reached.
Consider the perspective of the correction on the four-hour chart. Support is provided by the MACD line at 104.80. The price may not reach it, as well as the beginning divergence of the price with the Marlin oscillator may come out crumpled and weak. In this case, the price will reverse from the accumulation range of February 1-3 (marked with a gray area).
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.