Trend analysis (Fig. 1).
Today, the market from the level of 1.2070 (closing of yesterday's daily candlestick) may start moving upwards with the target of 1.2102 - the 76.4% retracement level (yellow dashed line). After testing this level, the continuation of work upward is possible, with the target of 1.2166 - the price level of 161.8% (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 market from the level of 1.2070 (closing of yesterday's daily candlestick) may start moving upwards with the target of 1.2102 - the 76.4% retracement level (yellow dashed line). After testing this level, the continuation of work upward is possible, with the target of 1.2166 - the price level of 161.8% (blue dashed line).
Unlikely scenario: from the level of 1.2070 (closing of yesterday's daily candlestick), it may start moving upwards with the target of 1.2102 - the 76.4% retracement level (yellow dashed line). Upon reaching this level, work downwards may continue with the target of 1.2051 - the support line of the ascending channel (blue bold line). After testing this line, work upward may continue with the target of 1.2102 - the 76.4% retracement level (yellow dashed line).
