15.08.2022
Chicago 12, Melborne City, USA
Reviews

Forex Analysis & Reviews: 04.07.2022

Relevance up to 05:00 2022-07-05 UTC+00

Trend analysis (Fig. 1).

The pound-dollar pair may move upwards from the level of 1.2093 (close of Friday’s daily candle) to the target of 1.2152, the 50.0% retracement level (red dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.2195, the 61.8% retracement level (red dotted line). From this level, a downward pullback is possible.

Exchange Rates 04.07.2022 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis – up;
  • Fibonacci levels – up;
  • Volumes – up;
  • Candlestick analysis – up;
  • Trend analysis – up;
  • Bollinger bands – up;
  • Weekly chart – up.

General conclusion:

Today the price may move upwards from the level of 1.2093 (close of Friday’s daily candle) to the target of 1.2152, the 50.0% retracement level (red dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.2195, the 61.8% retracement level (red dotted line). From this level, a downward pullback is possible.

Alternative scenario: from the level of 1.2093 (close of Friday’s daily candle), the price may move downward with the target of 1.2043, the 76.4 retracement level (yellow dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2152, the 50.0% retracement level (red dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Stefan Doll,
Analytical expert of InstaForex
© 2007-2022

Benefit from analysts’ recommendations right now

Top up trading account

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

administrator
My name is Lawrence. I am one of the most famous forex trading schools. The purpose of creating this project is not only to give working advice on the Forex market, but also to warn beginners from fraudulent projects. Here we publish reviews of all Forex training scam projects, and professionally train those who have just decided to enter this niche.

    Leave feedback about this

    • Quality
    • Price
    • Service

    PROS

    +
    Add Field

    CONS

    +
    Add Field
    Choose Image
    Choose Video