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Trend analysis (Fig. 1).
The market may move upward from 1.2258 (close of yesterday's daily candle) to the target of 1.2384, the 61.8% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.2492, the 76.4% retracement level (red dotted line). Upon reaching this level, a downward pullback is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
Today the price may move upward from 1.2258 (close of yesterday's daily candle) to the target of 1.2384, the 61.8% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.2492, the 76.4% retracement level (red dotted line). Upon reaching this level, a downward pullback is possible.
Alternative scenario: from the level of 1.2258 (close of yesterday's daily candle), the price may move upward to the upper fractal at 1.2323 (daily candle from 06/21/2022). After testing this level, a downward pullback is possible with the target of 1.2223, the 38.2% retracement level (yellow 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.
