Trend analysis (Fig. 1).
On Friday, the market from the level of 1.3835 (closing of yesterday's daily candlestick) will try to start moving upwards with the target of 1.3882 - the 38.2% retracement level (blue dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.3948 - the 50.0% 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 1.3835 (closing of yesterday's daily candlestick) will try to start moving upwards with the target of 1.3948 - the 50.0% retracement level (blue dashed line). Upon reaching this level, the price may continue to move upward with the target of 1.4014 - the 61.8% retracement level (blue dashed line).
Unlikely scenario: from the level of 1.3835 (closing of yesterday's daily candlestick), it will try to start moving upwards with the target of 1.3882 - the 38.2% retracement level (blue dotted line). Upon reaching this level, the price may continue to move downward with the target of 1.3816 - the 14.6% retracement level (red dotted line).
