Trend analysis (Fig. 1).
On Tuesday, the market from the level of 1.3735 (closing of yesterday's daily candlestick) will attempt to continue moving upwards to the target set at 1.3773 - the resistance line of the ascending channel (red bold line). After testing this line, it is likely to continue rising with a target of 1.3840 - the resistance line of the descending channel (blue bold line). And upon reaching this line, it may continue to work upward.
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 1.3735 (closing of yesterday's daily candlestick) will attempt to continue moving upwards to the target set at 1.3773 - the resistance line of the ascending channel (red bold line). After testing this line, it is likely to continue rising to the target set at 1.3840 - the resistance line of the descending channel (blue bold line). And upon reaching this line, it may continue to work upward.
Unlikely scenario: from the level of 1.3735 (closing of yesterday's daily candlestick), the pair will try to continue moving upwards with a target of 1.3773 - the resistance line of the ascending channel (red bold line). After testing this line, it may decline to the target set at 1.3668 - the lower fractal (blue dashed line). And upon testing this level, it is possible to work upwards with a target of 1.3750 - the 14.6% retracement level (red dashed line).
