Trend analysis (Fig. 1).
Today, the upward trend may continue from the level of 1.1172 (closing of yesterday's candle) with the target of 1.1235 located at the upper border of the Bollinger line indicator (presented in a purple dashed line). In case of breaking this level upwards, the next target is 1.1296 - a 76.4% retracement level (presented in a blue dashed line). Upon reaching this level, the price may begin to move down.
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 move upward with the target of 1.1235 located at the upper border of the Bollinger line indicator (presented in a purple dashed line).
Another possible scenario is a downward trend after reaching the level of 1.1235 (purple dashed line) with the target of 1.1129 - a 14.6% pullback level (presented in a red dashed line).
