On Friday, the price may go down from 1.3131 (the close price of yesterday’s daily candlestick) to the 14.5% retracement level of 1.3059 (blue dotted line). Once the price reaches this level, growth may extend.
Fig. 1 (daily chart)
Complex analysis:
– indicator analysis – down
– Fibonacci levels – down
– volumes – down
– candlestick analysis – down
– trend analysis – up
– Bollinger bands – up
– weekly chart – up
Conclusion:
Today, the price may go down from 1.3131 (the close price of yesterday’s daily candlestick) to the 14.5% retracement level of 1.3059 (blue dotted line). Once the price reaches this level, growth may extend.
Alternative scenario: the price may go down from 1.3131 (the close price of yesterday’s daily candlestick) to the 23.6% retracement level of 1.3009 (blue dotted line). Once the price reaches this level, growth may extend.
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1)
On Friday, the price may go down from 1.3131 (the close price of yesterday’s daily candlestick) to the 14.5% retracement level of 1.3059 (blue dotted line). Once the price reaches this level, growth may extend.
Fig. 1 (daily chart)
Complex analysis:
– indicator analysis – down
– Fibonacci levels – down
– volumes – down
– candlestick analysis – down
– trend analysis – up
– Bollinger bands – up
– weekly chart – up
Conclusion:
Today, the price may go down from 1.3131 (the close price of yesterday’s daily candlestick) to the 14.5% retracement level of 1.3059 (blue dotted line). Once the price reaches this level, growth may extend.
Alternative scenario: the price may go down from 1.3131 (the close price of yesterday’s daily candlestick) to the 23.6% retracement level of 1.3009 (blue dotted line). Once the price reaches this level, growth may extend.
The material has been provided by InstaForex Company – www.instaforex.com
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