Trend analysis (Fig. 1).
Today, the market from the level of 1.4051 (closing of yesterday'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 at 1.4164 - the upper fractal (red 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 1.4051 (closing of yesterday'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 at 1.4164 - the upper fractal (red dotted line).
Unlikely scenario: from the level of 1.4051 (closing of yesterday's daily candlestick), a downward movement may begin with the target of 1.3974 - the 38.2% retracement level (red dotted line). Upon testing this level, it is possible to start working upwards with the target of 1.4014 - the 61.8% retracement level (blue dashed line).
