Trend analysis (Fig. 1).
Today, the market from the level of 1.2119 (closing of yesterday's daily candlestick) will try to continue its upward movement with the target of 1.2154 - 21 EMA (black thin line). Once this line is tested, the price may continue to work upward, with the target at 1.2199 - the resistance line of the descending channel (red bold line). And then, upon reaching this line, 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;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.2119 (closing of yesterday's daily candlestick) will try to continue its upward movement with the target of 1.2154 - 21 EMA (black thin line). Once this line is tested, the price may continue to work upward, with the target at 1.2199 - the resistance line of the descending channel (red bold line). And then, upon reaching this line, it is possible to roll back down.
Alternative scenario: the price from the level of 1.2119 (closing of yesterday's daily candlestick) will try to start moving upwards with the target of 1.2154 - 21 EMA average (black thin line). The price, having tested this line, may start working downward, with the target at 1.2084 - the support line of the descending channel (red bold line). Upon reaching this line, it is possible to work upward.
