Trend analysis (Pic. 1).
On Thursday, the pair may rebound from the level of 1.3735 (the closing of yesterday's daily candlestick) to 1.3802, the retracement level of 23.6% (blue dotted line). After testing this level, the pair may advance to the target level of 1.3881, the retracement level of 38.2% (blue dotted line).
Pic. 1 (daily chart).
Complex analysis:
- indicator analysis- up;
- Fibonacci levels – up;
- volumes – up;
- candle analysis – down;
- trend analysis-up;
- Bollinger bands – up;
- weekly chart - up.
Conclusion:
Today, the pair may rebound from the level of 1.3735 (the closing of yesterday's daily candlestick) to 1.3802, the retracement level of 23.6% (blue dotted line). After testing this level, the pair may advance to the target level of 1.3881, the retracement level of 38.2% (blue dotted line).
Unlikely scenario: it may decline from the level of 1.3735 (the closing of yesterday's daily candlestick) to the level of 1.3669 – the lower fractal (blue dotted line). After testing this level, it may climb to 1.3750 – the retracement level of 14.6% (blue dotted line).
