Trend analysis (Fig. 1).
Today, the pair may trade downward from the level of 1.2625 (closing of yesterday's candle) towards the support line 1.2561 (presented in a red bold line). After reaching this line, the price will continue to move up with the target at 1.2780, a 76.4% retracement level (presented in a red dashed line). If this happens, the upward movement will continue with the target at 1.3080 resistance line (presented in a black bold line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
Today the price will continue to trade upward with the target at 1.2780, a 76.4% retracement level (presented in a red dashed line).
An unlikely scenario is a bearish move from the support line 1.2561 (red bold line), with the target of 1.2473, a 14.6% retracement level (presented in a blue dashed line).
