FX: Technical - Euro To US Dollar - What Does Fibonacci Say?

Agriculture: Russia's Exit from Black Sea Grain Deal Impacts Grain Prices

Relevance up to 07:00 2022-07-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0038 (close of yesterday's daily candle) to 0.9945, the 261.8% Fibonacci retracement level (blue dotted line). When testing this level, an upward movement is possible to 1.0093, the 14.6% retracement level (red dotted line). From this level, the price may continue to move up.

 

Exchange Rates 12.07.2022 analysis

 

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move downward from 1.0038 (close of yesterday's daily candle) to 0.9945, the 261.8% Fibonacci retracement level (blue dotted line). When testing this level, an upward movement is possible to 1.0093, the 14.6% retracement level (red dotted line). From this level, the price may continue to move up.

Alternative scenario: from the level of 1.0038 (close of yesterday's daily candle), the price may move downward to 0.9945, the 261.8% Fibonacci retracement level (blue dotted line). When testing this level, continued downward movement is possible to the historical support level of 0.9722 (blue dotted line). From this level, the price may move up.

 

Read more: https://www.instaforex.eu/forex_analysis/315881

Agriculture: Russia's Exit from Black Sea Grain Deal Impacts Grain Prices

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