Trend analysis (Fig. 1).
On Monday, the market from the level of 1.1897 (the closing level of last Friday's daily candlestick) is likely to move upwards and test the resistance line, 1.1934 (red bold line). If this line is tested, the price may continue rising to the target set at 1.1954 - the historical resistance level (blue dashed line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.1897 (the closing level of last Friday's daily candlestick) is expected to move upwards and test the resistance line, 1.1934 (red bold line). If this line is tested, the price may continue rising to the target set at 1.1954 - the historical resistance level (blue dotted line).
Unlikely scenario: the price from the level of 1.1897 (the closing level of last Friday's daily candlestick) may move downwards and test the 38.2% retracement level - 1.1842 (red dotted line). If this level is tested, the price may continue to move downward to the target set at 1.1815 - the 50.0% retracement level (blue dashed line).
