Trading Conditions
Products
Tools
Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 1.0263 (close of yesterday's daily candle) to 1.0289, the 14.6% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target of 1.0324, the 23.6% retracement level (red dotted line). From this level, a downward movement is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today the price may move upward from the level of 1.0263 (close of yesterday's daily candle) to 1.0289, the 14.6% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target of 1.0324, the 23.6% retracement level (red dotted line). From this level, a downward movement is possible.
Alternative scenario: from the level of 1.0263 (close of yesterday's daily candle), the price may move upward with the target of 1.0289, the 14.6% retracement level (red dotted line). After testing this level, a downward movement is possible with the target of 1.0235, the lower fractal (red dotted line). Upon reaching this level, the price may move up.
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.