Trend Analysis (Fig. 1).
Today, the market may start moving up from the level of 1.3832 (the closing of Friday's daily candle) with a target of 1.3944 – a pullback level of 85.4% (yellow dotted line). When testing this line, it will continue to go up with the target of 1.4015 at the upper fractal (daily candle from 03/04/2021).
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, the market may start moving up from the level of 1.3832 (the closing of Friday's daily candle) with a target of 1.3944 – a pullback level of 85.4% (yellow dotted line). When testing this line, it will continue to go up with the target of 1.4015 at the upper fractal (daily candle from 03/04/2021).
Unlikely scenario: from the level of 1.3832 (the closing of Friday's daily candle), the price may start moving down with a target of 1.3561 – a pullback level of 23.6% (the red dotted line).
