Trend analysis (Fig. 1).
On Tuesday, from the level of 1.3900 (the closing of yesterday's daily candlestick), the market will try to continue moving upwards, with the target of 1.3947 - the 50.0% retracement level (blue dashed line). When the price tests this level, it is likely to continue moving upwards with the target of 1.4013 - the 61.8% 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 from the level of 1.3900 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.3947 - the retracement level of 50.0% (blue dashed line). When the price tests this level, it is possible that the movement will continue upwards with the target of 1.4013 - the 61.8% retracement level (blue dashed line).
Unlikely scenario: from the level of 1.3900 (the closing of yesterday's daily candlestick), the pair will try to continue moving upwards with the target of 1.3947 - the 50.0% retracement level (blue dashed line). When testing this level, it is likely to work down with the target of 1.3815 - the 14.6% retracement level (red dotted line).
