Trend analysis (Fig. 1).
Today, an upward pullback is possible from the level of 1.2436 (closing of yesterday's candle) with a target at 1.2447 - a 50% pullback level (presented in a red dotted line). If this level is reached, the upward movement is likely to continue with a target at 1.2495 - a 61.8% retracement level (presented in a red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger Lines - down;
- Weekly schedule - up.
General conclusion:
Today, the price may move upward with a target at 1.2495 - a 61.8% retracement level (presented in a red dashed line).
Another possible scenario is a bearish trend from the level of 1.2400 - a 38.2% pullback level (presented in a red dashed line) with a target at 1.2258, located at the lower border of the Bollinger line indicator (presented in a blue dashed line curve).
