Trend analysis (Fig. 1).
On Tuesday, the market from the level of 1.2037 (closing of yesterday's daily candlestick) will try to continue moving upward with the target of 1.2075 - the historical resistance level (blue dotted line). After testing this level, the price may continue to work upward, with the target of 1.2102 - the 76.4% retracement level (yellow dashed line). And upon reaching this level, it is likely to further rise to the target set at 1.2135 - the upper border of the Bollinger line indicator (black 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 1.2037 (closing of yesterday's daily candlestick) will try to continue its upward movement with the target of 1.2075 - the historical resistance level (blue dotted line). After testing this level, the price may continue to work upward, with the target of 1.2102 - the 76.4% retracement level (yellow dashed line). And upon reaching this level, it is likely to further rise to the target set at 1.2135 - the upper border of the Bollinger line indicator (black dashed line).
Alternative scenario: the price from the level of 1.2037 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.2075 - the historical resistance level (blue dashed line). Having tested this level, the price may start working downwards, with the target of 1.2018 - the 14.6% retracement level (red dashed line). And then, after testing this level, it may further work downward with the target of 1.1975 - the support line of the ascending channel (blue thick line). Testing this line will enable the price to start working upwards.
