Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.08535-1.08765. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.
Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.08443-1.08522. At the moment, the pair is trading higher, indicating the strength of buyers.
The area of profitable prices for buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 8.04.2020.
• Quotation of the higher boundary of the zone 1/4-1.08456.
• Quotation of the higher boundary of the zone 1/2-1.08001
• Intraday objectives: update the highs from 28.04.2020-1.08911.
• Medium-term objectives: test the lower bound of WCZ – 1.09116.
Trading recommendations: buys from the range of favorable prices in the formation of a reversal pattern.
Buy: 1.08001-1.08456, Take Profit 1-1.08911, Take Profit 2-1.09116.
Origin: FreshForex
