Yesterday, the pair moved up and tested the pullback level of 76.4% at 1.3442 (yellow dotted line) and then went down quite strongly, closing the day at 1.3324. Today, the pair might continue to move up. News on the market is not expected today.
Trend analysis (Fig. 1).
Today, from the level of 1.3324 (the closing of yesterday's daily candle), the market will try to continue moving up with the target of 1.3382 which is a pullback level of 61.8% (yellow dotted line). If this level is reached, work up with the target of 1.3442 which is a pullback level of 76.4% (yellow dotted line).
Figure 1 (daily chart).
Comprehensive Analysis:
- Indicator Analysis – up
- Fibonacci Levels – up
- Volumes – up
- Candle Analysis – up
- Trend Analysis – up
- Bollinger Bands – up
- Weekly Chart – up
General conclusion:
Today, from the level of 1.3324 (the closing of yesterday's daily candle), the market will try to continue moving up with the goal of 1.3382 which is a pullback level of 61.8% (yellow dotted line). If this level is reached, work up with the target of 1.3442 which is a pullback level of 76.4% (yellow dotted line).
Alternative scenario: The market will move up with a target of 1.3382 which is a pullback level of 61.8% (yellow dotted line). If this level is reached, work down with the target of 1.3207 which is a pullback level of 38.2% (blue dotted line).
