On Friday, the price may go down from 1.1225 (the close price of yesterday’s daily candlestick) to the 14.5% retracement level of 1.1183 (red dotted line). In case the price tests this level, it may then go up.
Fig. 1 (daily chart)
Complex analysis:
– indicator analysis – down
– Fibonacci levels – down
– candlestick analysis – down
– trend analysis – up
– Bollinger bands – down
– weekly chart – up
Conclusion:
Today, the price may go down from 1.1225 (the close price of yesterday’s daily candlestick) to the 14.5% retracement level of 1.1183 (red dotted line). In case the price tests this level, it may then go up.
Alternative scenario: the price may go down from 1.1225 (the close price of yesterday’s daily candlestick) to the 23.6% retracement level of 1.1146 (red dotted line). In case the price tests this level, it may then go up.
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1)
On Friday, the price may go down from 1.1225 (the close price of yesterday’s daily candlestick) to the 14.5% retracement level of 1.1183 (red dotted line). In case the price tests this level, it may then go up.
Fig. 1 (daily chart)
Complex analysis:
– indicator analysis – down
– Fibonacci levels – down
– candlestick analysis – down
– trend analysis – up
– Bollinger bands – down
– weekly chart – up
Conclusion:
Today, the price may go down from 1.1225 (the close price of yesterday’s daily candlestick) to the 14.5% retracement level of 1.1183 (red dotted line). In case the price tests this level, it may then go up.
Alternative scenario: the price may go down from 1.1225 (the close price of yesterday’s daily candlestick) to the 23.6% retracement level of 1.1146 (red dotted line). In case the price tests this level, it may then go up.
The material has been provided by InstaForex Company – www.instaforex.com
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