Trend analysis (Fig. 1).
The market may begin to move up today with the target of 1.0807, the resistance line (blue bold line). The upward movement is likely to continue from the level of 1.0807.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
An upward movement is expected today with the target of 1.0807, the resistance line (blue bold line). The upward movement is likely to continue from the level of 1.0807.
An unlikely but possible scenario is from the level of 1.0787 (closing of yesterday's daylight candle), continued work down with the target of 1.0664, the retracement level of 85.4% (yellow dashed line).
