Market experts believe that a reversal will be confirmed upon a break above the $26000 zone. This will confirm a forthcoming higher high on the 4-hour chart and may pave the way towards the $26680 zones, or the higher territory around $27740 and $28180. If neither area can halt the advance, we could experience extensions towards the $29357 hurdle, marked as resistance by the beginning of June.
On the downside, a dip below $25600 is the move to assess whether the bears have gained the upper hand again. This would confirm a forthcoming lower low on both the 4-hour and and may open the path to test the $24726 zone again. If that area does not hold either, then the fall could extend to the $24000 territories.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD’s) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
Business News Governmental News Finance News