On Friday, the price may go up from 1.0866 (the close price of yesterday’s daily candlestick) to the 61.8% retracement level of 1.0919 (red dotted line). In case of a test of this mark, a pullback may occur.
Fig. 1 (daily chart).
Complex analysis:
– indicator analysis – up;
– Fibonacci levels – up;
– volumes – up;
– candlestick analysis – up;
– trend analysis – up;
– Bollinger bands – up;
– weekly chart – up.
Final thoughts:
Today, the price may go up from 1.0866 (the close price of yesterday’s daily candlestick) to the 61.8% retracement level of 1.0919 (red dotted line). In case of a test of this mark, a pullback may occur.
Alternative scenario: the price may go up from 1.0866 (the close price of yesterday’s daily candlestick) to a historic resistance level of 1.0930 (blue dotted line). A pullback is likely to occur after a test of this mark.
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
On Friday, the price may go up from 1.0866 (the close price of yesterday’s daily candlestick) to the 61.8% retracement level of 1.0919 (red dotted line). In case of a test of this mark, a pullback may occur.
Fig. 1 (daily chart).
Complex analysis:
– indicator analysis – up;
– Fibonacci levels – up;
– volumes – up;
– candlestick analysis – up;
– trend analysis – up;
– Bollinger bands – up;
– weekly chart – up.
Final thoughts:
Today, the price may go up from 1.0866 (the close price of yesterday’s daily candlestick) to the 61.8% retracement level of 1.0919 (red dotted line). In case of a test of this mark, a pullback may occur.
Alternative scenario: the price may go up from 1.0866 (the close price of yesterday’s daily candlestick) to a historic resistance level of 1.0930 (blue dotted line). A pullback is likely to occur after a test of this mark.
The material has been provided by InstaForex Company – www.instaforex.com
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