Trend analysis (Fig. 1).
Today, the market from the level of 1.2249 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.2274 - the 85.4% retracement level (yellow dashed line). Once this line is tested, the next upper target is at 1.2336 - the upper border of the Bollinger Band indicator (black dotted line). And upon testing this line, it is possible to roll back the work down.
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 1.2249 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.2274 - the 85.4% retracement level (yellow dashed line). Once this line is tested, the next upper target is at 1.2336 - the upper border of the Bollinger Band indicator (black dotted line). And upon testing this line, it is possible to roll back the work down.
Alternative scenario: from the level of 1.2249 (closing of yesterday's daily candlestick), it will try to continue moving upwards with the target of 1.2274 - the 85.4% retracement level (yellow dashed line). In case of testing this level, the lower work may begin with the target at 1.2183 - the 14.6% retracement level (red dotted line).
