Today is holiday in the UK. The positive data is expected in the US amid ISM Manufacturing and Construction Spending reports. Technically, the price is balanced under the Fibonacci extension on the H4 (Marlin oscillator on the H4 in the horizontal position). A sharp move may be observed both upward when the rate crosses the extension and downward when it pushes off it. If the rate consolidates under 1.5176 (the high of March 15), the descending move to the level of Fibonacci 200% 1.5130 and then to the area of supports of March 18 and 19 ~ 1.5080 is possible. If the price is above the Fibonacci extension, the first resistance is the range of Fibonacci levels 261.8% – 271% on the H4, 1.5222/36, then the area of 1.5286-1.5300.
The material has been provided by InstaForex Company – www.instaforex.com
Today is holiday in the UK. The positive data is expected in the US amid ISM Manufacturing and Construction Spending reports. Technically, the price is balanced under the Fibonacci extension on the H4 (Marlin oscillator on the H4 in the horizontal position). A sharp move may be observed both upward when the rate crosses the extension and downward when it pushes off it. If the rate consolidates under 1.5176 (the high of March 15), the descending move to the level of Fibonacci 200% 1.5130 and then to the area of supports of March 18 and 19 ~ 1.5080 is possible. If the price is above the Fibonacci extension, the first resistance is the range of Fibonacci levels 261.8% – 271% on the H4, 1.5222/36, then the area of 1.5286-1.5300.
The material has been provided by InstaForex Company – www.instaforex.com
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