Trend Analysis (Fig. 1).
Today, the market will try to continue moving up from the level of 1.3887 (the closing of yesterday's daily candle) to reach the upper fractal of 1.4015 (the daily candle from 03/04/2021). If this level is tested, it is possible to continue moving up with the target of 1.4217 at the historical resistance level (blue dotted line).
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 price will try to continue moving up from the level of 1.3887 (the closing of yesterday's daily candle) in order to reach the upper fractal of 1.4015 (the daily candle from 03/04/2021). If this level is tested, it is possible to continue moving up with the target of 1.4217 at the historical resistance level (blue dotted line).
Unlikely scenario: the price will try to start moving down from the level of 1.3887 (the closing of yesterday's daily candle) to reach the pullback level of 14.6% at 1.3815 (the red dotted line). In the case of testing this level, it will go up with the target of 1.3944 – a pullback level of 85.4% (yellow dotted line).
