Trend analysis (Fig. 1).
Today, the market from the level of 1.2181 (closing of Friday's daily candle), while moving upward, can test the historical resistance level of 1.2234 (blue dotted line) and then continue to move upward with the upper target of 1.2275 - a pullback level of 85.4% (yellow 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, the price from the level of 1.2181 (closing of Friday's daily candle), while moving upward, can test the historical level of 1.2234 (blue dotted line) and then continue to move upward with the upper target of 1.2275 - a pullback level of 85.4% (yellow dotted line).
Unlikely scenario: from the level of 1.2181 (closing of Friday's daily candle), while moving upward, it can test the historical level of 1.2234 (blue dotted line) and then start moving down, with the lower target of 1.2178 – a pullback level of 14.6% (red dotted line).
