Trend analysis (fig. 1).

On Tuesday, the pair will move down from the level of 1.3898 (closing level of yesterday’s candlestick) to the target at 1.3816, which is the 14.6% fibo retracement level (red dotted line). When testing this level, the price may continue its downward movement to the target of 1.3688 – the lower boundary of the Bollinger line (black dotted line).

analytics60505f1e9d6e6.jpg

fig. 1 (daily chart).

Comprehensive analysis:

– indicator analysis – down;

– Fibonacci levels – down;

– volumes – down;

– candlestick analysis – down;

– trend analysis – down;

– Bollinger lines – down;

– weekly chart – down.

Conclusion:

Today, the price will try to continue its downward movement from the level of 1.3898 (closing level of yesterday’s candlestick) with the target located at 1.3816, the retracement level of 14.6% (red dotted line). When testing this level, the price may continue to move down to the target of 1.3688 – the lower boundary of the Bollinger line (black dotted line).

Alternative scenario: the price will continue the downtrend from the level of 1.898 (closing level of yesterday’s candlestick) with the target located at 1.3816, the retracement level of 14.6% (red dotted line). When testing this level, the price may start to move upwards with the target at 1.3944, the 85.4% retracement level (yellow dashed 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.