See also
On Wednesday, the market may begin moving downward from the 1.2942 level (previous daily close), targeting 1.2905—the 14.6% retracement level (yellow dashed line). Upon testing this level, the price may rebound upwards, aiming for 1.2977—resistance line (bold blue line).
Alternative Scenario: If the market starts declining from the 1.2942 level, it may target 1.2868 (23.6% retracement level, yellow dashed line). If this level is tested, the price may rebound upwards toward 1.2977—resistance line (bold blue line).
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
A consolidation at 1.1780 is needed above this level for a bullish outlook. So, the euro could then reach the level of 1.1829 and even the psychological level of 1.20
Once gold consolidates above $3,400 on the daily chart, it will be a good point to open long positions with a short-term target around the 8/8 Murray level at $3,500
Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful
Training video
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.