Trend analysis (Fig. 1).
Today, the market will move upward from the level of 1.1793 (closing of last Friday's daily candlestick) and may test the 23.6% retracement level - 1.1815 (blue dotted line). If this level is tested, the price may continue to move up, with a target of 1.1849 – the 38.2% retracement 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 will move upward from the level of 1.1793 (closing of last Friday's daily candlestick) and may test the 23.6% retracement level - 1.1815 (blue dotted line). If this level is tested, the price may continue to move up, with a target of 1.1849 – the 38.2% retracement level (blue dotted line).
Alternative scenario: from the level of 1.1793 (closing of last Friday's daily candlestick), the price may move down and may retest the lower fractal - 1.1762 (blue dotted line). If this level is tested, the price may start moving up with the target of 1.1811 - the historical resistance level (blue dotted line).
