Yesterday, the pair moved up, almost tested the upper limit of the Bollinger line indicator of 1.3835 (black dotted line) and closed the daily candle at 1.3812. Today, the price will try to continue moving up according to the economic calendar news, it is expected at 17.00 UTC (pound) and 13.30, 15.30, 17.30, 19.00 UTC (dollar).

Trend Analysis (Fig. 1).

Today, the market will try to continue moving up from the level of 1.3812 (the close of yesterday’s daily candle) to reach the pullback level of 85.4% at 1.3944 (yellow dotted line). In case of testing this level, there will be an upward movement with the target of 1.4377 (daily candle from 104/17/2018).

analytics602380fc0fb4f.jpg

Figure 1 (daily chart).

Comprehensive Analysis:

– Indicator Analysis – up

– Fibonacci Levels – up

– Volumes – up

– Candle Analysis – down

– Trend Analysis – up

– Bollinger Bands – up

– Weekly Schedule – up

General Conclusion:

Today, the price will try to continue moving up from the level of 1.3812 (the closing of yesterday’s daily candle) to reach the pullback level of 85.4% at 1.3944 (yellow dotted line). In case of testing this level, there will be an upward movement with the target of 1.4377 (daily candle from 04/17/2018).

An unlikely scenario: the price will try to continue moving up from the level of 1.3812 (the closing of yesterday’s daily candle) in order to reach the upper limit of the Bollinger line indicator of 1.3866 (the black dotted line). In case of testing this level, there will be a work going down with the target of 1.3717-13 average EMA (yellow thin line).

The material has been provided by InstaForex Company – www.instaforex.com

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