On Monday, the release of strong calendar news is not expected and the market will work on the technical analysis.
Trend analysis (Figure 1).
On Friday, the price of the news rolled back down. On Monday, the upward movement will most likely continue towards the first target of 1.1758 with the recoil level of 23.6% (blue dotted line). A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - up.
General conclusion.
On Monday, the market will move up towards the first target of 1.1758 and a recoil rate of 23.6% (blue dotted line).
