Trend analysis (Fig. 1).
On Thursday, the market may try to retrace upwards from the pullback level of 38.2% - 1.1066 (red dotted line). If successful, the first upper target 1.1085 is the resistance line (red bold line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - down;
- Weekly schedule - down.
General conclusion:
On Thursday, a retreat upward movement is possible.
From the pullback level, 38.2% - 1.1066 (red dotted line) goes up into the pullback. If successful, the next target 1.1147 is a pullback level of 50.0% (blue dashed line).
In the case of the lower scenario - a downward movement with a target of 1.1030 - a pullback level of 50.0% (red dashed line).
