Trend analysis (Fig. 1).
On Monday, the market from the level of 1.2135 (closing of last Friday's daily candle), while moving up, may test the resistance level - 1.2176 (the blue bold line). If this level is tested, the price may continue to move up with a target of 1.2234 – the 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 - down
- Weekly schedule - up
General conclusion:
Today, the price from the level of 1.2135 (closing of last Friday's daily candle), while moving up, may test the resistance level - 1.2176 (the blue bold line). If this level is tested, the price may continue to move up, with a target of 1.2234 – the historical resistance level (blue dotted line).
Alternative scenario: from the level of 1.2135 (closing of last Friday's daily candle), the price may start moving down to the historical support level - 1.2073 (the blue dotted line). In case of testing this level, the price may continue to move down with a target of 1.2063 – a pullback level of 38.2% (red dotted line).
