Trend analysis (Fig. 1).
Today, the market from the level of 1.4186 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the upper fractal - 1.4227 (blue dotted line). In case of testing this level, it is possible to continue working upwards with the target of 1.4328 - the upper border of the Bollinger line indicator (black dashed line). Upon reaching this line, it is possible to work down.
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger lines - up.
General conclusion:
Today, the price from the level of 1.4186 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the upper fractal - 1.4227 (blue dotted line). In case of testing this level, it is possible to continue working upwards with the target of 1.4328 - the upper border of the Bollinger line indicator (black dashed line). Upon reaching this line, it is possible to work down.
Alternative scenario: the price from the level of 1.4186 (closing of yesterday's daily candlestick) will try to start moving downwards in order to reach the retracement level of 14.6% - 1.4137 (red dashed line). In case of testing this level, it is possible to continue working upwards with the target of 1.4227 - the upper fractal (red dotted line).
