Trend analysis (Fig. 1).
Today, from the level of 1.1846 (closing of yesterday's daily candlestick), the market will try to start moving up with the target of 1.1954 - the historical resistance level (blue dotted line). After this level is tested, the price may continue to work up with the target of 1.2075 – the next historical resistance level (blue dotted line).
Fig. 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – down;
- Bollinger bands – up;
- Weekly chart – down.
General conclusion:
Today, from the level of 1.1846 (closing of yesterday's daily candlestick), the price will try to start moving up with the target of 1.1954 – the historical resistance level (blue dotted line). After this level is tested, the price may continue to work up with the target of 1.2075 - the historical resistance level (blue dotted line).
Alternative scenario: from the level of 1.846 (closing of yesterday's daily candlestick), the price will try to make a downward movement with the target of 1.1811 – the historical support level (blue dotted line). After this level is tested, the price may continue to work downwards with the target of 1.1778 – the 76.4% retracement level (red dotted line).
