The pair on Thursday, moving up, was not able to reach a pullback level of 23.6% - 1.1035 (red dotted line). On Friday, strong calendar news is expected at 10.00 UTC + (Euro) and 13.30 UTC + (dollar). Possible movement in the side channel. Movement down before lunch, up after lunch.
Trend analysis (Fig. 1).
On Friday, the market will move down before lunch with the target 1.1013 - a retracement level of 38.2%, and from this level, work up to achieve a retracement level of 23.6% - 1.1035 (blue dashed line), and if successful, can continue to move up, with the target 1.1063 - rollback level 38.2% (blue dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger Lines - up;
- Weekly schedule - down.
General conclusion:
On Friday, upward movement is possible.
The first upper target is the retreating level of 23.6% - 1.1035 (blue dotted line) and, if successful, can continue to move up, with the target 1.1063 - the retreating level of 38.2% (blue dotted line).
An unlikely scenario - all day moving down to the target 1.0990 - lower fractal (blue dashed line).
