Last Friday, the pair moved down and almost tested the historical support level of 1.2075 (blue dotted line). And then, it went up and closed the daily candle at 1.2119. Today, the price may continue to move up. No important news is expected on Monday.
Trend analysis (Fig. 1).
On Monday, the market from the level of 1.2119 (closing of last Friday's daily candle), while moving up, may test the resistance level - 1.2177 (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 - up
- Weekly chart - up
General conclusion:
Today, the price from the level of 1.2119 (closing of last Friday's daily candle), while moving up, may test the resistance level - 1.2177 (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).
Unlikely scenario: from the level of 1.2119 (closing of last Friday's daily candle), the price may start moving up to the resistance level - 1.2177 (blue bold line). If this level is tested, the price may roll back down with a target of 1.2075 - the historical resistance level (blue dotted line).
