BTC 09.13.2019 -Watch for breakout of the trendline to confirm further downside

BTC has been trading sideways at the price of $1.315. Watch for potential downward opportunities if you see the breakout of the $10.260. There is a chance for potential test of $9.885.

analytics5d7b9d8721d0c.jpg

Upper purple line – Rising support line

Falling trend line – Expected path

Red rectangle – Support level and downward objective

MACD oscillator is showing decreasing momentum on the upside and bearish divergence. Support levels are seen at the price of $10,264 and $9.886 and resistance levels are found at $10,450 and $11,00. Bulls need to be very cautious as there is bearish divergence on the MACD oscillator and potential downside movement. Selling opportunities are preferable with the first target at $9.886..

The material has been provided by InstaForex Company – www.instaforex.com

USD/JPY analysis for September 13, 2019 – Bearish divergence on the MACD, selling opportunities preferable

USD/JPY has been trading sideways in past 24h hours at the price of 108.08. Anyway, I found bearish divergence on the MACD oscillator, which is sign that there is potential for the downside. Be careful with long positions.

analytics5d7b9a6123bff.jpg

Upper green line – Broken support line

Purple line – Expected path

Blue horizontal lines – Support levels

MACD oscillator is showing decreasing momentum on the upside and bearish divergence. Support levels are seen at the price of 107.55 and 107.24 and resistance levels are found at 108.25and 108.50. Bulls need to be very cautious as there is bearish divergence on the MACD oscillator and potential downside movement. Selling opportunities are preferable with the targets at 107.55 and 107.25.

The material has been provided by InstaForex Company – www.instaforex.com

Euro trapped bears

Unlike the first week of the fall, when a key event (a report on the US labor market) left investors indifferent, the September meeting of the ECB made a real sensation on the market. Prior to the Governing Council’s meeting, there was much talk of whether the QE should be reanimated, and about the euro’s response to a lack of monetary stimulus. A consensus assessment by Bloomberg experts suggested that Mario Draghi and his colleagues would cut their deposit rate from -0.4% to -0.5% and begin buying assets worth €30-40 billion a month. It was all the more surprising to see that with a smaller program of quantitative easing, the euro went to the 9th figure’s founding and luring the bears into a trap.

Most likely, investors were confused by the indefinite period of validity of QE, although subsequently, the euphoria of euro sellers gave way to disappointment. Starting in November, the ECB will buy assets worth $20 billion a month, which may mean that it did not change its rules. This means that the capabilities of the regulator are limited. He needs support from the governments of the eurozone countries, which should increase government spending and bond issues. Only in this situation will the European Central Bank’s “bazooka” operate. Mario Draghi called on Germany and other countries to fiscally stimulate the economy, essentially signaling that the ECB’s firepower is running out. The EUR/USD bulls immediately went on the attack.

At first glance, optimistic forecasts for the main currency pair look strange. The US GDP is growing faster than its European counterpart. Inflation in the United States is about to exceed the Fed target, and the labor market is strong as half a century ago. However, the interim agreement between Washington and Beijing that Donald Trump spoke about, reducing the risks of promiscuous Brexit, the pro-European government of Italy and, most importantly, the desire of investors to get rid of European bonds bought specifically for QE, can become important “bullish” drivers for the EUR/USD pair. The reaction of the pair in the launching of the quantitative easing program in 2015 serves as evidence. Instead of continuing to peak, German bond yields went up, while the euro strengthened.

Yield dynamics of US and German bonds

analytics5d7b92179ed4b.jpg

In the week of September 20, all investor attention will be riveted to the Fed meeting. It seems that the American Central Bank has completely turned a blind eye to economic theory and is acting on the orders of the US president. According to a consensus estimate by experts at the Wall Street Journal, GDP in 2019 will grow by 2.2%. Unemployment has been at the bottom since the 1970s, and core inflation in August accelerated to 2.4% y/y. These indicators are in favor – at least in favor of keeping rates at the current level if not tightening monetary policy. Jerome Powell is going to reduce it. The derivatives market is sure of this by 86%, and if the FOMC gives a signal to continue the cycle of monetary expansion, the EUR/USD pair will rush upward.

Technically, a breakout of the upper border of the downward trading channel near the resistance of 1.1095 will increase the risk of activating the “Shark” pattern with a target of 88.6%. It is located near 1.1365.

EUR / USD daily chart

analytics5d7b922c4bc6f.jpg

The material has been provided by InstaForex Company – www.instaforex.com

GBP/USD 09.13.2019 – Both upward target met, more upside yet to come

GBP/USD did exactly what I expected yesterday and both our upward targets at 1.2374 and 1.2430 have been met. Anyway, I see still strong upward momentum in the background, which is sign that there still more upside to come. Next upward target is set at the price of 1.2515 (Fibonacci expansion 161.8%)

analytics5d7b945bca066.jpg

Upper green line – Support

Rising green line – Expected path

MACD oscillator is showing good new momentum up in the background and I do expect at least another push higher. Support levels are seen at the price of 1.2437 and 1.2390 and resistance levels are found at 1.2476 and 1.2515. Bears need to be very cautious as there is strong upward momentum in the background and potential buying the deep type of feeling. As long as the GBP is holding above 1.2383 there is a chance for potential test of 1.2515.

The material has been provided by InstaForex Company – www.instaforex.com

Gold record holder: unbeatable metal, long-term growth

analytics5d7b864353336.jpg

The yellow metal, having once won a leading position, is not going to descend from the podium. In the future, it will continue to grow, analysts at Citigroup, the largest US bank, are sure. Low interest rates and fears of a possible recession will be key drivers of growth.

In the next two years, the cost of the leading precious metal will increase and reach $ 2000 per 1 ounce, according to Citigroup. Experts are sure that the protracted trade conflict between the United States and China will become the catalyst for this recovery. The unstable geo-political situation will increase the risks of the onset of a recession in the US economy, the bank emphasizes.

A high level of geo-political uncertainty provides significant support to gold. This external background creates the ideal soil for the growing demand for the yellow metal. In a similar situation, investors will prefer gold and other traditional precious metals as safe assets, Citigroup reminds.

The bank’s report states that it is highly probable that the yellow metal will test the maximum values again which was recorded in 2011-2013. New price records are expected in 2021–2022 amid a slowdown in economic growth in the United States, especially in the event of a recession. Another driver of gold growth may be the election uncertainty in the United States, which will lead to a rise in the price of precious metals to $ 1800– $ 2000 per 1 ounce.

According to Citigroup analysts, the yellow metal, in the short term, will be able to withstand pressure factors. Correction of the value of gold provides an excellent opportunity to increase investment, experts recall. The bank believes that if the Fed rates fall to zero, precious metals will be the most attractive asset for investing.

Gold is not afraid of a slowdown in the global economy, experts are sure. Such negative factors are offset by institutional investor policies. First of all, this includes the strategy of leading regulators who periodically buy up yellow metal for their reserves. Therefore, precious metals will always be in price, experts summarize.

The material has been provided by InstaForex Company – www.instaforex.com

Gold record holder: unbeatable metal, long-term growth

analytics5d7b864353336.jpg

The yellow metal, having once won a leading position, is not going to descend from the podium. In the future, it will continue to grow, analysts at Citigroup, the largest US bank, are sure. Low interest rates and fears of a possible recession will be key drivers of growth.

In the next two years, the cost of the leading precious metal will increase and reach $ 2000 per 1 ounce, according to Citigroup. Experts are sure that the protracted trade conflict between the United States and China will become the catalyst for this recovery. The unstable geo-political situation will increase the risks of the onset of a recession in the US economy, the bank emphasizes.

A high level of geo-political uncertainty provides significant support to gold. This external background creates the ideal soil for the growing demand for the yellow metal. In a similar situation, investors will prefer gold and other traditional precious metals as safe assets, Citigroup reminds.

The bank’s report states that it is highly probable that the yellow metal will test the maximum values again which was recorded in 2011-2013. New price records are expected in 2021–2022 amid a slowdown in economic growth in the United States, especially in the event of a recession. Another driver of gold growth may be the election uncertainty in the United States, which will lead to a rise in the price of precious metals to $ 1800– $ 2000 per 1 ounce.

According to Citigroup analysts, the yellow metal, in the short term, will be able to withstand pressure factors. Correction of the value of gold provides an excellent opportunity to increase investment, experts recall. The bank believes that if the Fed rates fall to zero, precious metals will be the most attractive asset for investing.

Gold is not afraid of a slowdown in the global economy, experts are sure. Such negative factors are offset by institutional investor policies. First of all, this includes the strategy of leading regulators who periodically buy up yellow metal for their reserves. Therefore, precious metals will always be in price, experts summarize.

The material has been provided by InstaForex Company – www.instaforex.com

Trading recommendations for the EURUSD currency pair – prospects for further movement

Over the past trading day, the EUR / USD currency pair showed an extremely high volatility of 159 points, resulting in a surge of 95 points down and 159 points up. From the point of view of technical analysis, we have a great trading day. I congratulate everyone on a decent profit and the coincidence of the previously set forecast, and now, we will analyze the technical part in detail. Many waited for a downward movement, and the consolidation in the face of the psychological level of 1.1000 was on everyone’s ears, as the accumulation of several days prepared the quote for the great procession. Day “X” has come, the price rushed down, the point 1.1000 is behind, and the breakdown was followed by an inertial move, which went straight to the minimum of the current year 1.0926, where the fulcrum was found with surgical accuracy. Profit taken! Further, no one expected such a development, in counting hours, we return back to the starting point and overcome it, resting in the end at the resistance level of 1.1080. Local overheating of short positions in a compartment with an information and news background played a role in restoring the quote, and if you still weren’t afraid and took the initiative, you could make money on two vibrations.

As discussed in a previous review, speculators were waiting for short positions, and their reporting point was slightly below the psychological level of 1.1000. For some reason, I’m sure that many managed to ride both a decline and an increase. A decline to a minimum of 1.0926, at the same rate as yesterday, said for itself that the market was overheating and was very likely to wait for a correction, but it happened even better – a return. Considering the trading chart in general terms (the daily period), we see that the corrective move is still on the market, and the recent fluctuation confirmed the pivot point of 1.0926, which holds the main downward trend.

Now, let’s move on to the organizers of this banquet, that is, to the information and news background.

Yesterday, the focus of the spotlight was a meeting of the Board of the European Central Bank, followed by a press conference. As expected, the ECB reduced the deposit rate from -0.4% to -0.5%. In addition to everything, they resumed the quantitative easing program with the purchase of assets in the amount of 20 billion euros per month. That is, the Europeans have lived without the QE program for less than a year, and here you go again – come and get it! In turn, the head of the ECB, Mario Draghi, at a subsequent press conference, delighted everyone with a statement that the ECB would not raise rates until inflation approached the target level — a little less than 2%. Now, the inflation rate is 1% per annum. What was left unattended was the fact that Mario Draghi evaded a direct answer regarding the quantitative easing program, without giving specific dates for the QE program. Experts agree that in accordance with the charter of the regulator and the limits on the purchase of securities of one issuer, QE programs can last approximately 12-14 months – no more. In fact, this calculation and the omission of the real QE dates later helped to return the euro position to the market. The next euro recovery factor came to us from the United States, where they published inflation data. So, they were waiting for confirmation of the inflation rate by 1.8%, and as a result, they got a decrease to 1.7%. This indicator automatically activated a panic wave in everyone, regarding the fact that at the upcoming meeting of the Federal Reserve System the refinancing rate will be reduced. It was hard to stop the panic process and if we compare both news, we get the basis for the return of the quotes.

Today, in terms of the economic calendar, we have data on retail sales in the United States, where a slowdown is expected from 3.4% to 3.2%. In fact, if the data are confirmed, then in tandem with the US inflation indicators, the mood about lowering the refinancing rate may increase. In terms of informational background, we have another surge, which was provided by everyone’s favorite source of Bloomberg media. So Bloomberg published an interview with the head of the central bank of Austria, Robert Holtzmann, who said that the last package of QE of the European Central Bank may have been a mistake and could be changed after the new head of the ECB Christina Lagarde takes office. The news did not go unnoticed, and we almost immediately rushed up.

analytics5d7b6d50af536.jpg

The upcoming trading week in terms of the economic calendar has not just a package of statistical data, but a meeting of the Fed, which many traders have been waiting for. Thus, intrigue, and high volatility, is provided in absentia. Of course, no one forgets about the spontaneous informational background, which will fuel the interest of speculators along the entire path.

The most interesting events displayed below —>

Tuesday 17th September

USA 13:15 Universal time. – Volume of industrial production

Wednesday, September 18

EU 9:00 Universal time. – Consumer Price Index (CPI) (YoY) (Aug): Prev 1.0% —> Forecast 1.0%

USA 12:30 Universal time. – Number of building permits issued (Aug): Prev 1,317M —> Forecast 1,300M

USA 12:30 Universal time. – Volume of construction of new houses (Aug): Prev 1.191M —> Forecast 1.250M

USA 18:00 Universal time – Fed meeting

USA 18:30 Universal time – Press conference of the Federal Open Market Committee of the Fed

Thursday, September 19

USA 14:00 Universak time – Sales in the secondary housing market (Aug): Prev 5.42M —> 5.40M forecast

Further development

Analyzing the current trading chart, we see that the level of 1.1080 did not last long and the departure of the current information background gave acceleration, towards the level of 1.1110 – the cluster limit on August 16-22. In fact, we see that against the background of an already unstable platform, another piece of news flies that continues to unjustifiably push the euro to new heights. Speculators, in turn, are immensely happy. Volatility is high and the information and news background sparkles, we work for our pleasure.

It is likely to assume that the information and news background will play a small role in the movement of quotes, where from the point of view of technical analysis everything indicates a correction, or at least a partial recovery. Thus, the value of 1.1110 plays the role of resistance, but if the panic continues, then the upward movement may resume. Another theory is to slow down 1.1080 / 1.1110.

analytics5d7b6d68a2ec7.png

Based on the above information, we derive trading recommendations:

– Buying positions are considered in case of price fixing higher than 1.1120, with the prospect of a move to 1.1160-1.11180.

– Selling positions are considered in the case of fixing the price lower than 1.1066, with the prospect of a move of 1.1050-1.1000.

Indicator analysis

Analyzing a different sector of timeframes (TF), we see that indicators on the minute, intraday, and medium-term periods signal purchases. In the analysis, it is worth considering such a moment that, due to the high amplitude, the indicators arbitrarily changed their interest.

analytics5d7b8046ec2b4.png

Volatility per week / Measurement of volatility: Month; Quarter; Year

Measurement of volatility reflects the average daily fluctuation, calculated for the Month / Quarter / Year.

(September 13 was built taking into account the time of publication of the article)

The current time volatility is 54 points, which is almost equal to the average daily indicator. It is likely to suggest that volatility could still increase amid the publication of statistics on the United States.

analytics5d7b805d37bd5.png

Key levels

Resistance zones: 11,1100 ** ;, 1180 *; 1.1300 **; 1.1450; 1.1550; 1.1650 *; 1.1720 **; 1.1850 **; 1,2100

Support Areas: 1,1100 **; 1,1000 ***; 1.0850 **; 1,0500 ***; 1.0350 **; 1,0000 ***.

* Periodic level

** Range Level

*** Psychological level

**** The article is built on the principle of conducting a transaction, with daily adjustment

The material has been provided by InstaForex Company – www.instaforex.com

Euro is back on horseback: growth continues

The European currency regained optimism and showed growth. The reason for this was the commentary by the ECB President, Mario Draghi, regarding the introduction of a stimulus package. The head of the regulator emphasized that the probability of a recession is low at the moment, which also gave confidence to the European currency.

analytics5d7b4ce82978c.jpg

After the unveiling of the new stimulus package, it became known that the ECB is cutting rates and restarting the strategy of quantitative easing (QE). According to M. Draghi, this is necessary to combat the economic slowdown. According to experts, the list of incentive measures is very impressive. The decision of the regulator will help stimulate the Eurozone economy and reduce the risk of recession, experts say.

Recall that after the statements of the head of the ECB, the European currency collapsed sharply. The EUR/USD pair fell by 0.8% to 1.0926–1.0927, which is a record low lately. After the press conference, M. Draghi, the tandem quickly turned upward, gaining a foothold above 1.1080. The EUR/USD pair soared more than a figure from the low of Thursday, September 12. Currently, she has overcome this mark and is growing steadily, reaching indicators of 1.1100-1.1105.

The stimulus package adopted during the ECB meeting includes five key elements. These include:

1. Reduction in interest rates by 10 bp to -0.5%.

2. Refusal of the calendar pegging of market signals.

3. Restarting the asset buyback program.

4. Changes in the TLTRO refinancing program, in particular, the liquidation of the 10 bp spread and providing banks with more favorable credit conditions.

5. The introduction of a two-level system of rates that protects part of bank capital from negative rates.

Analysts pay attention to three reasons for the reversal of the European currency. Firstly, it is an appeal to governments by the head of the ECB to strengthen fiscal stimulus. He insists on the gradual but steady implementation of this reform. Draghi is convinced that this is necessary to strengthen the potential for long-term economic growth. Secondly, it is a long-term application of the program of quantitative easing (QE), which will have a positive effect on the economy. Draghi insists on its use on an ongoing basis It is possible that an endless QE program will be of great importance for economic incentives. Thirdly, the current actions of the ECB guarantee a further reduction in the Fed rate, experts say. The rate cut should improve the European economy, and the prospect of a softening Fed policy supports the EUR/USD pair.

According to experts, the events of this Thursday marked the bottom of the EUR/USD pair. As a result, one of the largest short-term risks for the European currency was left behind. She is gaining strength and is actively growing. However, external risks remain, which include the actions of US President Donald Trump and the threat of a “tough” Brexit. The American leader considered the ECB’s decision to be a “weakening euro”, so analysts recommend not to forget about the possible response from the United States, including the introduction of tariffs.

analytics5d7b6d58ebf4c.png

The material has been provided by InstaForex Company – www.instaforex.com

Analysis of EUR / USD and GBP / USD for September 13. The euro was able to complete the downward trend.

EUR / USD

analytics5d7b5e42d7a4f.png

Thursday, September 12, ended for the EUR / USD pair with an increase of 55 basis points, despite the fact that the quotes decreased to the minimum of the expected wave 3, 3. Thus, the wave 5 in 3 during the day, although it turned out to be somewhat shortened, but it can be considered complete, as well as the whole wave 3. However, the questions remain: on a global level (waves 1-2-3) are part of the 5-wave structure, or is it another abc formation? In the second case, the construction of the bearish section of the trend is completed, and now, we are expected to build at least three waves up with the prospect of leaving much higher than the level of 1.1250. Thus, the readiness of the euro-dollar pair to further decline can now be determined only by a successful attempt to break through the lows of waves 3 and 5.

Fundamental component:

On the EUR / USD instrument, all the most interesting news yesterday concerned the ECB meeting and the debriefing of this meeting. As markets expected, Mario Draghi lowered the deposit rate to -0.50% and announced the launch of a new asset repurchase program worth € 20 billion per month. This program will begin in November 2019. It seems to be nothing surprising and the markets began to get rid of the euro in accordance with the plan. However, upon reaching the minimum of wave 3 in 3, there was a sharp upward turn and no less strong growth of the European currency. What could have caused this? Possibly, pending orders for the purchase of large volumes, for example, large players who were located near the level of 1.0926. Perhaps, traders in any case did not expect the pair to fall below this level and began to take profits around it. Also, maybe inflation in the USA, which fell in August to 1.7% yoy, dramatically changed the mood of the foreign exchange market. And most likely, all three factors played simultaneously.

Today, I draw attention to only one economic report, which will be released in the afternoon in the USA.

analytics5d7b5e61989e6.png

And on one index, the University of Michigan Consumer Confidence Index.

analytics5d7b5e753dc28.png

Retail sales in America should grow by 0.3% in August, and the consumer confidence index may increase slightly after falling by almost 10 points and reach 90.9.

Purchase goals:

1.1248 – 0.0% Fibonacci

Sales goals:

1.0893 – 161.8% Fibonacci

1.0807 – 200.0% Fibonacci

General conclusions and recommendations:

The euro-dollar pair supposedly completed the construction of the bearish wave 3. If this is true, the pair expects the construction of an upward set of waves. I recommend buying a pair with targets located about 12 figures, but so far in small volumes.

GBP / USD

analytics5d7b5e899a3de.png

On September 12, the pair GBP / USD gained just a few basic points, and the overall market activity tended to zero. It is not surprising, since all the main attention of the Forex market was paid to a couple of euro-dollars, which had a very strong news background yesterday. The pound-dollar pair remains within the framework of constructing the proposed wave with the composition of the correction section of the trend. Wave c may already be completed, since it has gone beyond the maximum of wave a. However, it can also take a much more extended and complex form. Thus, everything will depend on the news background.

Fundamental component:

On Friday, the news background for the GBP / USD pair will not be strong. Two US reports may force markets to trade the pair more actively, but if their values are neutral, then activity will remain at the same level. In addition, markets are clearly more interested in Brexit’s hot issue, rather than economic reports from America, although Brexit-related news is not much. Boris Johnson defends Jeremy Corbyn from the opposition, but parliament is likely to regain its right to return to work through the courts. Moreover, the European Union is likely to provide a respite for Brexit. Thus, Johnson’s plans are crumbling one by one.

Sales goals:

1.2016 – 0.0% Fibonacci

Purchase goals:

1.2401 – 50.0% Fibonacci

1.2489 – 61.8% Fibonacci

General conclusions and recommendations:

The downward trend section is still considered completed. Thus, now, it is expected to continue the construction of the rising wave with targets located near the calculated levels of 1.2401 and 1.2489, which corresponds to 50.0% and 61.8% Fibonacci. I recommend buying pounds in small lots, as the wave of c may be completed in the near future.

The material has been provided by InstaForex Company – www.instaforex.com

Technical analysis of GBP/USD for September 13, 2019

Overview:

The GBP/USD pair (British Pound / US Dollar) continues to strengthen from the area of 1.2303 and 1.2394 in the 4-hour time frame.

The price spot of 1.2303 and 1.2394 remains a significant support zone. Therefore, the possibility t…

Trading plan for EUR/USD pair on 09/13/2019

The euro made two big moves after the ECB. First was a sharp drop down to almost the lows of the month at 1.0926, and then an equally rapid growth reaching a new high of the month at 1.1086.

This probably indicates strong support for the euro at …

Hot forecast for EUR/USD on 09/13/2019 and trading recommendation

Although it was predicted that Mario Draghi would arrange a local catastrophe, the outcome of the meeting of the European Central Bank was not so terrifying. As expected, the deposit rate was reduced from -0.4% to -0.5%. In addition, a debt purchase program of €20 billion per month will continue as long as necessary. That is as much as the European Central Bank decides. In addition, Mario Draghi said that rates will not increase until inflation stabilizes above 2.0%. Frankly, from all this, it follows that the next step of the ECB is to lower the refinancing rate. Most importantly, we still have to wait a long time for at least some tightening of the monetary policy of the ECB. And it is not a fact that Christine Lagarde, who will take the post of head of the ECB on November 1, will become not only the first woman in this post, but also the person who will nevertheless end the era of super-soft monetary policy.

analytics5d7b40aea0a2b.png

However, the single European currency did not decline for a long time, and quickly returned to the values it was at before the announcement of the results of the European Central Bank meeting. The fact is that investors unexpectedly drew attention to inflation in the United States, which suddenly fell from 1.8% to 1.7%. But it had to remain unchanged. This alignment automatically made everyone recall the horror story about the inevitable reduction in the refinancing rate of the Federal Reserve. Moreover, if in addition to declining inflation, the European Central Bank also softens its monetary policy.

United States inflation:

analytics5d7b40ccf0668.png

Today, there are all the prerequisites for the further strengthening of the single European currency. The reason should be the data on retail sales in the United States, the growth rate of which may slow down from 3.4% to 3.2%. If these forecasts come true, it turns out that not only is inflation slowing down, but consumer activity is also declining. This is an explosive mixture, which will inevitably lead to lower profits of US companies. In other words, cries about the fact that the Fed has no choice but to immediately reduce the refinancing rate will seriously put pressure on the psyche of investors.

Retail Sales Growth Rate (US):

analytics5d7b424d68125.png

The EUR/USD pair showed really strong fluctuation, where the current year’s low was touched (1.0926), and a rapid return to the starting point of the course at 1.1080. What was the reason for such rapid fluctuations, I described above, but few people expected such a spread in the price of 150 points. Considering everything that happens in general terms, we see that conditionally the correction phase has nowhere to go and the price actually continues to be above the psychological mark of 1,1000 with long shadows behind and a desire to further move upward.

It is likely to assume that the upward interest will still remain for some time in the market, where traders are considering the move to 1.1110/1.1125, where the peak of the previous accumulation along with the Fibo level of 38.2 is located.

Concretizing all of the above into trading signals:

• Long positions, we consider in terms of progress to points 1,1110/1,1125.

• We consider short positions in case of loss of upward interest in relation to current points and price consolidation lower than 1.1050.

From the point of view of a comprehensive indicator analysis, we see that indicators relative to all the main time periods signal a further growth in prices. It is worth considering such a moment that due to sharp price fluctuations, indicators arbitrarily began to change their readings.

analytics5d7b4260ef00e.png

The material has been provided by InstaForex Company – www.instaforex.com