Last Friday, the pair moved down in the sideway channel, tested the 13 average EMA of 1.3667 (yellow thin line), then the price went up, closing the daily even candle at 1.3701. Today, the price may continue to move up according to the economic calendar news, it is expected at 9.30 UTC (pound) and 15.00 UTC (dollar).
Trend Analysis (Fig. 1).
Today, the market may continue to move up from the level of 1.3701 (the closing of Friday's daily candle) with the target of 1.3757 at the upper fractal (red dotted line). When testing this line, it will continue to go up with the target of 1.3828 at the upper limit of the Bollinger Line Indicator (the black 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 Schedule – up
General Conclusion:
Today, the price may start moving up with the target of 1.3757 at the upper fractal (red dotted line). When testing this line, it will continue to go up with the target of 1.3828 at the upper limit of the Bollinger Line Indicator (the black dotted line).
Unlikely scenario: from the level of 1.3701 (the close of Friday's daily candle), it may continue to move down with the target of 1.3656 at the support line (the red bold line). When testing this line, further work will go up with the target of 1.3757 at the upper fractal (red dotted line).
