The pair continued to move upward on Thursday, testing a pullback level of 50.0% - 1.1067 (red dashed line). Today, the upward movement will continue. There is still high volatility in the market. Strong calendar news is not expected today.
Trend analysis (Fig. 1).
Today, from the level of 1.1031 (closing of yesterday's candle) the price will try to continue to move up with the target of 1.1168, a retracement level of 61.8% (red dashed line). If this level is reached, the downward movement will continue with the target of 1.0961, a retracement level of 23.6.% (Blue dashed line).
Fig. 1 (daily chart).
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
Today, the price will try to continue to move up.
An unlikely scenario: from a retracement level of 61.8% - 1.1168 (red dashed line) work up, with a target of 1.1293, a retracement level of 76.4% (red dashed line).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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