Trend analysis (Fig. 1).
Today, from the level of 1.1915 (closing of yesterday's daily candle), the market can continue to move upward with the goal of 1.1945 - the historical resistance level (blue dotted line). When testing this level, there should be further work upward with the goal of 1.1999, which is the upper limit of the Bollinger line indicator (black dotted line). From this level, downward work is possible.
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 1.1915 (closing of yesterday's daily candle), the market can continue to move upward with the goal of 1.1945 - the historical resistance level (blue dotted line). When testing this level, there should be further work upward with the goal of 1.1999, which is the upper limit of the Bollinger line indicator (black dotted line). From this level, downward work is possible.
Alternative scenario: when moving upward and testing the historical resistance level of 1.1945 (blue dotted line), the price may start moving downward with the target of 1.1897 – a 14.6% pullback level (red dotted line).
