Trend analysis (Fig. 1).
Today, the pair may remain on trading upwards from the level of 1.0983 which is the closing of yesterday's candle. Its target is set at 1.1002, a 61.8% retracement presented in a red dashed line. If this level is broken upward, the price will continue to move upward with the target of 1.1059, a 76.4% retracement presented in a red dashed line.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - down;
- Weekly schedule - up.
General conclusion:
Today, the price will continue trading upward with the target at 1.1059, a 76.4% retracement presented in a red dashed line.
An unlikely scenario is a bearish move from the level of 1.1002, a 61.8% retracement (presented in a red dashed line) with a target at 1.0893 - a 50.0% retracement level presented in a blue dashed line.
