Trend analysis (Fig. 1).
On Monday, the market from the level of 1.2095 (closing of last Friday's daily candlestick) may continue to move upward with the target of 1.2166 - the level of 161.8% (blue dotted line). If this level is tested, the price may continue to move upward, with the target of 1.2234 - the historical resistance level (blue dotted 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 1.2095 (closing of last Friday's daily candlestick) may continue to move upward with the target of 1.2166 - the level of 161.8% (blue dashed line). If this level is tested, the price may continue to move upward with the target of 1.2234 - the historical resistance level (blue dotted line).
Alternative scenario: the price will start moving downwards from the level of 1.2095 (closing of last Friday's daily candlestick) with the target of 1.2056 - the 14.6% retracement level (red dashed line). If this level is tested, the price may continue to move upward to the target set at 1.2166 - the level of 161.8% (blue dashed line).
