On Friday, the pair will attempt to go down from 1.2438 (the close of yesterday’s candlestick) to the 76.4% retracement level of 1.2391 (the blue dotted line). A bullish correction will occur if the pair reaches the target.
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 – down.
Final thoughts:
Today, the pair will attempt to go down from 1.2438 (the close of yesterday’s candlestick) to the 76.4% retracement level of 1.2391 (the blue dotted line). A bullish correction will occur if the pair reaches the target. In such a case, the mark of 1.2467 will stand as the next target.
Alternatively, from the level of 1.2438 (the close of yesterday’s candlestick), the price may fall to the 85.4% retracement level of 1.2373 (the blue dotted line). A bullish correction may occur if the pair reaches the target. In such a case, the mark of 1.2473 will stand as the next target (the daily candlestick formed on April 19, 2023).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
On Friday, the pair will attempt to go down from 1.2438 (the close of yesterday’s candlestick) to the 76.4% retracement level of 1.2391 (the blue dotted line). A bullish correction will occur if the pair reaches the target.
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 – down.
Final thoughts:
Today, the pair will attempt to go down from 1.2438 (the close of yesterday’s candlestick) to the 76.4% retracement level of 1.2391 (the blue dotted line). A bullish correction will occur if the pair reaches the target. In such a case, the mark of 1.2467 will stand as the next target.
Alternatively, from the level of 1.2438 (the close of yesterday’s candlestick), the price may fall to the 85.4% retracement level of 1.2373 (the blue dotted line). A bullish correction may occur if the pair reaches the target. In such a case, the mark of 1.2473 will stand as the next target (the daily candlestick formed on April 19, 2023).
The material has been provided by InstaForex Company – www.instaforex.com
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