Trading Conditions
Products
Tools
Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 0.9983 (close of yesterday's daily candle) to the target of 0.9931, the 14.6% retracement level (red dotted line). When testing this level, an upward movement is possible with the target of 1.0050, the 61.8% retracement level (blue dotted line). When testing this level, the price may continue to move up with the target of 1.0170, the 76.4% retracement level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 0.9983 (close of yesterday's daily candle) to the target of 0.9931, the 14.6% retracement level (red dotted line). When testing this level, an upward movement is possible with the target of 1.0050, the 61.8% retracement level (blue dotted line). When testing this level, the price may continue to move up with the target of 1.0170, the 76.4% retracement level (blue dotted line).
Alternatively, the price may move up from the level of 0.9983 (close of yesterday's daily candle) to 1.0050, the 61.8% retracement level (blue dotted line). After testing this level, the price may move down to test the support level at 0.9990 (thick red line).
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.