Trend analysis (Fig. 1)
Today, from the level of 1.1640 (the closing of yesterday's daily candle), the market can continue to move up with the goal of 1.1683 which is a pullback level of 23.6% (blue dotted line). If this line is tested, further upward work is possible with the goal of 1.1720 which is a pullback level of 39.2% (blue dotted line).
Figure 1 (daily chart).
Complex analysis:
- Indicator Analysis – up
- Fibonacci Levels – up
- Volumes – up
- Candle Analysis – up
- Trend Analysis-up
- Bollinger Bands – up
- Weekly Chart - the up
General conclusion:
Today the price may continue to move up with the target of 1.1683 which is a pullback level of 23.6% (blue dotted line). If this line is tested, further upward work is possible with the goal of 1.1720 which is a pullback level of 39.2% (blue dotted line).
Unlikely scenario: When moving up and reaching the pullback level of 14.6% - 1.1659(blue dotted line), the price may start moving down to the support level of 1.1622 (white bold line).
