Trend analysis (Fig. 1).
Today, the market will try to start moving upwards from the level of 1.3759 (the closing of yesterday's daily candlestick) to the target at 1.3882 - the 38.2% retracement level (blue dotted line). Once this level is tested, it is likely to continue working upwards with the target of 1.3948 - the 50.0% retracement level (blue dashed line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
Today, the price will try to start moving upwards from the level of 1.3759 (the closing of yesterday's daily candlestick) to the target at 1.3882 - the 38.2% retracement level (blue dashed line). Once this level is tested, it is likely to continue working upwards with the target of 1.3948 - the 50.0% retracement level (blue dashed line).
Unlikely scenario: from the level of 1.3759 (the closing of yesterday's daily candlestick), the pair will try to continue moving downwards to the target at 1.3732 - the support line of the ascending channel (red bold line). Once this level is tested, it is possible to continue working upwards with the target of 1.3882 - the retracement level of 38.2% (blue dashed line).
