Trend analysis (Fig. 1)
The price from the level of 1.3941 (closing of yesterday's daily candle) will attempt to decline today, namely to the target of 1.3837 – the support line (red bold line). Once this line is reached, it may continue to increase to the target of 1.3975 – the upper fractal (daily candle from 04/29/2021).
Figure 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - down
- Fibonacci levels - down
- Volumes - down
- Candlestick analysis - down
- Trend analysis - up
- Bollinger lines - up
- Weekly chart - up
Overall conclusion:
Today, the price from the level of 1.3941 (closing of yesterday's daily candle) will attempt to decline to the target of 1.3837 – the support line (red bold line). After reaching this line, it may continue rising to the target of 1.3975 – the upper fractal (daily candle from 04/29/2021).
Alternatively, the price from the level of 1.3941 (closing of yesterday's daily candle will attempt to resume its growth to the target of 1.4014 – a pullback level of 61.8% (blue dotted line). After reaching this level, it may further rise to the target of 1.4096 – a pullback level of the 76.4% blue dotted line).
