Trend analysis (Fig. 1).
Today, an upward trend is possible from the level of 1.2260 (closing of yesterday's candle) with the target at 1.2399 - a 38.2% retracement level (presented in a red dotted line). If this level is reached, the upward trend is likely to continue with the next target at 1.2447 - a 50.0% pullback level (presented in a red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger Lines - down;
- Weekly schedule - up.
General conclusion:
Today, the price may move upward with the target of 1.2447 - a 50.0% pullback level (presented in a red dashed line).
Another possible scenario is a downward trend from 1.2305 - a 14.6% pullback level (presented in a red dashed line) with a target at 1.2221 - the lower border of the Bollinger line indicator (presented in a blue dashed line curve).
