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Trend analysis
This week, the price from the level of 1.3795 (closing of the last weekly candlestick) is expected to rise to the target of 1.3901 – the pullback level of 23.6% (yellow dotted line). After reaching this level, it may further rise to the target of 1.3967 – the pullback level of 38.2% (yellow dotted line). Once it is reached, an upward movement is possible.
Figure 1 (weekly chart)
Comprehensive analysis:
An upward movement can be concluded based on a comprehensive analysis.
The overall result of the candlestick calculation based on the weekly chart: the price will most likely move in an upward trend without the first lower shadow (Monday - up) and with the second upper shadow (Friday - down) in the weekly white candlestick.
The price from the level of 1.3795 (closing of the last weekly candlestick) will increase to the target of 1.3901 – the pullback level of 23.6% (yellow dotted line). After reaching it, the upward trend will extend to the target of 1.3967 – the pullback level of 38.2% (yellow dotted line). The continuation of growth is possible after reaching this level.
As an alternative, the price from the level of 1.3795 (closing of the last weekly candlestick) may rise to the target of 1.3860 – the pullback level of 14.6% (yellow dotted line) and then decline to the target of 1.3562 – the pullback level of 23.6% (red dotted line). After reaching this level, the upward movement may continue again.
Díky analytickým přehledům společnosti InstaForex získáte plné povědomi o tržních trendech! Jako zákazníkovi společnosti InstaForex je Vám k dispozici velký počet bezplatných služeb umožňujících efektivní obchodování.
