Trend analysis (Fig. 1).
Today, from the retracement level of 23.6% -1.2238 (blue dashed line) the pair may begin to move up with the first target of 1.2306 - the retracement level of 50.0% (red dashed line). Upon reaching this level, the continuation of the upward work is with the goal of 1.2518 - a retracement level of 61.8% (red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - neutral;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
Today, an upward movement is possible with the target of 1.2518 - a retracement level of 61.8% (red dotted line).
Unlikely scenario: from a pullback level of 50.0% - 1.2306 (red dashed line), work down with a target of 1.2096 - a pullback level of 38.2% (blue dashed line).
