Trading Conditions
Products
Tools
Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 0.9944 (close of yesterday's daily candle) to 1.0011, the 23.6% retracement level (white dotted line). Upon reaching this level, work upwards with the target of 1.0079, the 38.2% retracement level (white dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move upward from the level of 0.9944 (close of yesterday's daily candle) to 1.0011, the 23.6% retracement level (white dotted line). Upon reaching this level, work upwards with the target of 1.0079, the 38.2% retracement level (white dotted line).
Alternative scenario: from the level of 0.9944 (close of yesterday's daily candle), the price may move down to the lower fractal 0.9900 (white dotted line). After testing this level, work up with the target of 0.9968, the 14.6% retracement level (white dotted line). When testing this level, a continued upward move 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.