Trading Conditions
Products
Tools
Trend analysis (Fig. 1).
The euro-dollar pair may move up from 1.0408 (close of Friday's daily candle) to the target of 1.0461, the 38.2% retracement level (red dotted line). After testing this level, the price may continue to move up with the target of 1.0495, the 50.0% retracement level (red dotted line). From this level, downward movement is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
Today, the price may move up from 1.0408 (close of Friday's daily candle) to the target of 1.0461, the 38.2% retracement level (red dotted line). After testing this level, the price may continue to move up with the target of 1.0495, the 50.0% retracement level (red dotted line). From this level, downward movement is possible.
Alternative scenario: from the level of 1.0408 (close of Friday's daily candle), the price may move down to the lower fractal 1.0349 (red dotted line). After testing this level, upward movement is possible.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.