On Wednesday, the price moves in the side channel retested the rollback level of 61.8% at 1.3042 (blue dashed line) but again could not stay above. On Thursday, strong calendar news comes out at 8.30, 12.30 and 3.30 London time. Most likely, the bulls will once again try to resume the upward movement.
Trend analysis (Fig. 1).
On Thursday, the price will move upward with the first goal of the sliding level of 61.8% at1.3042 (blue dashed line).
Fig. 1 (daily schedule).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- weekly schedule - up.
General conclusion:
On Thursday, the price will move upward with the first goal of the sliding level of 61.8% at1.3042 (blue dashed line). When you break through the level, the upward movement continues.
The material has been provided by InstaForex Company - www.instaforex.com