On Monday, the pair moved down by 30 points all day after the gap, breaking through the pullback level of 14.6% - 1.0847 (red dotted line). Today, strong calendar news was expected at 7.00 Universal time (Euro) and 15.00 Universal time (dollar).
Trend analysis (Fig. 1).
On Tuesday, the market may continue to move up with the target of 1.0888 - a pullback level of 23.6% (red dashed line). Upon reaching the level of 1.0888, it is likely to continue working up.
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:
Today, we expect an upward movement with the target of 1.0888 - a pullback level of 23.6% (red dashed line). Upon reaching the level of 1.0888, it is likely to continue to work up.
An unlikely but possible scenario: Working down with the target at 1.0779 - the lower fractal (red dashed line), from the level of 1.0855 (closing yesterday's daily candle).
