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Trend Analysis (Fig. 1)
On Monday, from the 1.3462 level (Friday's daily candle close), the market may begin moving upward toward the target of 1.3528 – the 50% retracement level (red dashed line). Upon testing this level, the price may then start moving down toward the 85.4% retracement level at 1.3516 (red dashed line).
Fig. 1 (daily chart)
Comprehensive Analysis:
Overall conclusion: Upward trend.
Alternative scenario: From the 1.3462 level (Friday's daily candle close), the price may begin moving upward toward the target of 1.3548 – the upper fractal (blue dashed line). Upon testing this level, the price may then begin a downward movement toward the 50% retracement level at 1.3528 (red dashed line).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
