Trend analysis (Fig. 1).
Today, the market from the level of 1.4151 (closing of yesterday's daily candlestick) will try to continue moving upwards, with the aim of reaching the historical resistance level - 1.4217 (blue dotted line). If this level is tested, it is possible that the movement will continue upwards with the target of 1.4247 - the upper fractal (red dotted line). After reaching this level, it is possible to roll back down.
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - up.
General conclusion:
Today, the price from the level of 1.4151 (closing of yesterday's daily candlestick) will try to continue moving upwards, with the aim of reaching the historical resistance level - 1.4217 (blue dotted line). If this level is tested, it is possible that the movement will continue upwards with the target of 1.4247 - the upper fractal (red dotted line). After reaching this level, it is possible to roll back down.
Alternative scenario: the price from the level of 1.4151 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the upper fractal - 1.4201 (daily candle from 06/03/2021). In case of testing this level, it is possible to work downward with the target of 1.4162 - the 14.6% retracement level (red dotted line).
