On Wednesday, the market tested the upper fractal 1.1325. However, more bulls were not enough and the price went down quite strongly. On Thursday, strong calendar news comes out at 10.30 and 13.30 London time.
Trend analysis (Fig. 1).
On Thursday, the price might try again to break through the resistance line of 1.1301 (red bold line). Again, the first upper target is the level of 1.1325 on the upper fractal.
Fig. 1 (daily schedule).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis is neutral;
- trend analysis - up;
- Bollinger lines - up;
- weekly schedule - up.
General conclusion:
On Thursday, the price might try again to break through the resistance line of 1.1301 (red bold line). Again, the first upper target is the level of 1.1325 on the upper fractal.
The material has been provided by InstaForex Company - www.instaforex.com
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