On the four-hour chart, we can observe the corrective movement after the quotation has reached a range support level of 110.00 / 110.50. At the moment, the buyers have already reached the value of 112.00, which reflects the level of resistance at the intersection of the Fibo level. Probably assume that the "bulls" will feel a periodic ceiling before them, thereby slowing down the movement and allowing the "bears" to return to the market. If the forecast coincides, the first thing to expect is this plot of the range within 111.70 / 112.10, where in the case of a breakdown of the lower boundary, the path to the value of 110.00 will open.
Key levels
Resistance zones: 112,00; 113.00 *; 114.40; 115.50
Support zones: 110.00 (110.50); 108.80
* Periodic level
Signals
- It is recommended to buy a pair at a price higher than 112.20, with a move to 112.50 / 113.00.
- It is recommended to sell a pair at a price below 111.70, with a move to 111.00 / 110.80 / 110.00.
Note: Forecasts are not a direct guide to action!
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