Trend analysis (Fig. 1).
On Monday, the market from the level of 1.3989 (closing of last Friday's daily candlestick) may continue to move upward with the target of 1.4095 - the 76.4% retracement level (blue dotted line). After testing this level, it is possible to continue working upwards with the target of 1.4127 - the upper border of the Bollinger line indicator (black 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 1.3989 (closing of last Friday's daily candlestick) may continue to move upward with the target of 1.4095 - the 76.4% retracement level (blue dotted line). After testing this level, it is possible to continue working upwards with the target of 1.4127 - the upper border of the Bollinger line indicator (black dashed line).
Unlikely scenario: from the level of 1.3989 (closing of last Friday's daily candle), it may continue to move upward with the target of 1.4095 - the 76.4% retracement level (blue dashed line). After testing this level, a pullback operation downward is possible with the target of 1.4010 - a pullback level of 14.6% (red dashed line).
