Bullish inside bar, which was formed the day before yesterday, not only didn’t trigger any upward movement, but even didn’t get local renewal of the highs. Such weakness of bulls might signify a tangible sellers’ force superiority on the market. Thus the quotes can drop to the area of the latest low at 1848.48-1850.00.
Local downward structure has completed a forming of corrective upswing, which got a bearish pinbar at its tip this morning - a solid signal of decline extension. We expect decline of the quotes from current levels in direction of the closest structure’s low (1856.14) and then to 1848.48-1850.00.
Main scenario: Decline to 1848.48-1850.00.
Alternative scenario: In case of inability to go below 1856.14, the price might correct in direction 1870.00-1872.24.
Shorts to 1848.48-1850.00.
Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]
FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications