Trend analysis (Fig. 1).
Today, from the level - 1.1874 (closing of yesterday's daily candlestick), the market will try to continue moving upward with the goal of 1.1894 - an 85.4% pullback level (blue dotted line). If this level is tested, work upward to the level of 1.1920 – the upper fractal (red dotted line). If this succeeds, further work upward to 1.1948 historical resistance level (blue dotted line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up
- Fibonacci levels - up
- Volumes - up
- Candlestick analysis - up
- Trend analysis - up
- Bollinger bands - up
- Weekly chart - up
General conclusion:
Today, from the level of - 1.1874 (closing of yesterday's daily candlestick), the price will try to continue moving upward with the goal of 1.1894 - an 85.4% pullback level (blue dotted line). If this level is tested, work upward to the level of 1.1920 – the upper fractal (red dotted line). If this succeeds, further work upward to 1.1948 historical resistance level (blue dotted line).
Alternative scenario: when moving upward and testing the pullback level of 85.4% - 1.1894 (blue dotted line), the pair may start moving down with the target of 1.1844 – a 23.6% pullback level (red dotted line).
