Instant account opening
Site map
Български Čeština English Français Deutsch Italiano Polski Português Română Русский Slovenský Español Nederlands

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register account
cabinet icon

InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

Instant account opening

Registration is not available for non-EU residents. Please, proceed to the website of the other member of the InstaForex group.
toolbar icon

Trading Platform

For mobile devices

Company does not offer investment advice and the analysis performed does not guarantee results

Exchange Rates 11.01.2019 analysis

Since Mid-November, Successive Lower Highs were demonstrated around the price levels of 1.3060, 1.2920 and 1.2800 maintaining movement within the depicted H4 bearish channel

Shortly after, a quick decline was demonstrated towards the price level of 1.2500 before bullish recovery could take place on December 12.

A bullish Head & Shoulders pattern was demonstrated on the H4 chart with neckline located around 1.2650-1.2680. Hence, a successful bullish breakout above the depicted bearish channel was demonstrated on December 24.

On December 31, early bullish breakout attempt above 1.2720 was demonstrated on the H4 chart. However, the market failed to maintain sufficient bullish momentum above 1.2800 (mid-range of the depicted consolidation range).

That's why, another bearish pullback was executed towards 1.2500 (backside of the broken channel) where significant bullish recovery was demonstrated during last Thursday's consolidations.

This week, another bullish breakout above 1.2720 was attempted to resume the bullish scenario of the market towards 1.2800, 1.2880 and 1.3000. Otherwise, the pair remains trapped within the previous consolidation range (1.2500-1.2720).

Bullish persistence above 1.2720 is mandatory for buyers. Any decline below 1.2600 invalidates the bullish scenario suggesting a further decline towards 1.2440.

On the other hand, the price level of 1.2800 stands as an intraday key-level corresponding to mid-range of the previous consolidation zone (1.2720-1.2870 which needs to be broken for a further bullish advance.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Mohamed Samy,
Analytical expert
InstaForex Companies Group © 2007-2019
Top up 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.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 48.65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.