Trend analysis (Fig. 1).
On Thursday, the market from the level of 1.3924 (closing of yesterday's daily candlestick) may start moving upwards with the target of 1.4014 - the 61.8% retracement level (blue dotted line). After testing this line, it is possible to continue working upward, with the target of 1.4095 - the 76.4% retracement level (blue 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 1.3924 (closing of yesterday's daily candlestick) may start moving upwards with the target of 1.4014 - the 61.8% retracement level (blue dashed line). After testing this line, it is possible to continue working upward, with the target of 1.4095 - the 76.4% retracement level (blue dashed line).
Unlikely scenario: from the level of 1.3924 (closing of yesterday's daily candlestick), an upward movement may begin, with the target of 1.4014 - the 61.8% retracement level (blue dashed line). After testing this line, it is possible to start working downwards, with the target of 1.3883 - 8 EMA (blue thin line).