empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

16.09.202110:04 Forex Analysis & Reviews: Indicator analysis. Daily review of EUR/USD for September 16, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The pair moved sideways on Wednesday, closing the daily candle at 1.1816. On Thursday, the market may move downward. News is expected at 12:00 UTC (euro) and 12:30 UTC (dollar).

Trend analysis (Fig. 1).

The market may move downward from the level of 1.1816 (closing of yesterday's daily candle) to test 1.1786 - the 50.0% retracement level (red dotted line). Upon reaching this level, the price may start moving upward with the target at 1.1823 - the 38.2% retracement level (yellow dashed line). From here, further upward movement is expected.

Exchange Rates 16.09.2021 analysis

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly chart - up.

General conclusion:

Today, the market may move downward from the level of 1.1816 (closing of yesterday's daily candle) to test 1.1786 - the 50.0% retracement level (red dotted line). Upon reaching this level, the price may start moving upward with the target at 1.1823 - the 38.2% retracement level (yellow dashed line). From here, further upward movement is expected.

Alternative scenario: the price may move downward from the level of 1.1816 (closing of yesterday's daily candle) to test 1.1786 - the 50.0% retracement level (red dotted line). Upon reaching this level, the price may continue to move downward with the target at 1.1770 - the historical resistance level (blue dotted line). When testing this level, the price may begin to move up.

Stefan Doll
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off