Trend analysis (Fig. 1).
On Tuesday, the market from the level of 1.3981 (closing of yesterday's daily candlestick) will attempt to continue moving upwards with the target of 1.4013 - the 61.8% retracement level (blue dotted line). After testing this level, it is possible to continue working upwards with the target of 1.4095 - the 76.4% retracement level (blue dashed line). And upon reaching this line, it may continue working upward.
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 1.3981 (closing of yesterday's daily candlestick) will attempt to continue moving upwards with the target of 1.4013 - the 61.8% retracement level (blue dashed line). After testing this level, it is possible to continue working upwards with the target of 1.4095 - the 76.4% retracement level (blue dashed line). And upon reaching this line, it may continue working upward.
Alternative scenario: from the level of 1.3981 (closing of yesterday's daily candlestick), the pair will try to continue moving upwards with the target of 1.4013 - the 61.8% retracement level (blue dashed line). After testing this level, it is possible to work downward with the target of 1.3900 - 5 EMA (red thin line).
