Trend analysis (Fig. 1).
Today, the market from the level of 1.4107 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.4142 - the 85.4% retracement level (blue dotted line). Upon testing this level, it is possible that the movement will continue upwards with the target of 1.4177 - the resistance line (yellow bold line). Upon reaching this line, it is possible to move downwards.
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - down;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.4107 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.4142 - the 85.4% retracement level (blue dotted line). Upon testing this level, it is possible that the movement will continue upwards with the target of 1.4177 - the resistance line (yellow bold line). Upon reaching this line, it is possible to move downwards.
Alternative scenario: from the level of 1.4107 (closing of yesterday's daily candlestick), it will try to continue moving upward with the target of 1.4118 - 21 EMA (black thin line). And upon testing this line, it is possible to continue moving downwards with the target of 1.4064 - the support line of the descending channel (yellow bold line). And then, after testing this line, it is possible to move upwards with the target of 1.4092 - the retracement level of 76.4% (blue dashed line).
