Indicator analysis. Daily review of EUR / USD pair for October 16, 2018
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Trend analysis (Fig. 1).
On Tuesday, the market will move up with the first target of 1.15599 at 38.2% (blue dashed line), and it is only possible to continue the upward movement with the subsequent goal of the upper fractal 1.1612 if a breakout occurs on this level.
Fig. 1 (daily schedule).
Comprehensive analysis:
– indicator analysis – up;
– Fibonacci levels – down;
– volumes – down;
– candlestick analysis – down;
– trend analysis – up;
– Bollinger lines – down;
– weekly schedule – up.
General conclusion:
On Tuesday, an upward movement with the first target of 1.1599 is expected with a recoil level of 38.2% (blue dashed line) and a continuation of the uptrend when it breaks through.
The material has been provided by InstaForex Company – www.instaforex.com
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