On Thursday, the following strong calendar news comes out:
- 12.30 London time. USD, the basic consumer price index (CPI) (m / m) (Apr), the expected value is 0.2% compared to the previous value of 0.2%.
Trend analysis (Figure 1).
On Wednesday, the price continued its downtrend, based on the weekly schedule. On Thursday, the downward movement may stop. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - up;
- Weekly schedule - down.
General conclusion.
On Thursday, the market will move upward in the rollback along the side of the channel towards the first target of 1.1930, with the retracement level of 14.6%.
The material has been provided by InstaForex Company - www.instaforex.com
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