On Wednesday, the price moved up, reaching a recoil level of 38.2% (yellow dotted line) and after that, it went down quite strongly. Strong news that may affect the market today is scheduled at 18.00 London time. The upper target remains the same at 1.1499 with the recoil level of 38.2% (yellow dashed line).
Trend analysis (Fig. 1).
On Thursday, an upward trend is expected with the first target of 1.1446 at 21 average EMA (black thin line), and only when this line is broken, the next target is a rollback level of 38.2% (yellow dashed line).
Fig. 1 (daily schedule).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - down;
- trend analysis - up;
- Bollinger lines - down;
- weekly schedule - up.
General conclusion:
On Thursday, an upward trend is expected with the first target of 1.1446 at 21 average EMA (black thin line), and only when this line is broken, the next target is a rollback level of 38.2% (yellow dashed line).
