Trend analysis (Fig. 1).
Today, the market from the level of 1.2179 (closing of last Friday's daily candlestick) may continue to move upward with the target at 1.2245 - the upper fractal (red dotted line). If this level is tested, the price may continue to move upward with the target at 1.2274 - the 85.4% retracement level (yellow dashed line). Upon reaching this line, the uward work is possible with the target of 1.2289 - 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 1.2179 (closing of last Friday's daily candlestick) may continue to move upward with the target at 1.2245 - the upper fractal (red dotted line). If this level is tested, the price may continue to move upward with the target at 1.2274 - the 85.4% retracement level (yellow dashed line). Upon reaching this line, the upward work is possible with the target of 1.2289 - the upper border of the Bollinger line indicator (black dashed line).
Alternative scenario: the price from the level of 1.2179 (closing of last Friday's daily candlestick) will continue to move down with the target at 1.2139 - the support line of the ascending channel (blue bold line). After testing this line, it is possible to work upwards with the target at 1.2245 - the upper fractal (red dotted line).
