Trend analysis (Fig. 1).
Today, the market from the level of 1.2174 (closing of yesterday's daily candlestick) may start moving upwards with the target of 1.2245 - the upper fractal (red dotted line). Upon reaching this level, it is possible to continue working upwards, with the target of 1.2274 - the 85.4% retracement level (yellow dashed line). And after testing this level, it is possible to continue working upwards, with the target at 1.2345 - the historical resistance level (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 1.2174 (closing of yesterday's daily candlestick) may start moving upwards with the target of 1.2245 - the upper fractal (red dotted line). Upon reaching this level, it is possible to continue working upwards, with the target of 1.2274 - the 85.4% retracement level (yellow dashed line). And after testing this level, it is possible to continue working upwards, with the target at 1.2345 - the historical resistance level (blue dashed line).
Unlikely scenario: from the level of 1.2174 (closing of yesterday's daily candlestick), it may start moving upwards with the target of 1.2234 - the historical resistance level (blue dotted line). Upon reaching this level, the downward movement may start, with the target of 1.2165 - the 14.6% retracement level (red dotted line).
