Trend analysis (Fig. 1)
Today, the price from the level of 1.1906 (closing of yesterday's daily candle) is rising and will try reaching the historical support level of 1.1954 (blue dotted line). After testing this level, the upward movement may continue with the target of 1.1980 – the pullback level of 23.6% (blue dotted 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 1.1906 (closing of yesterday's daily candle) is ascending and will make an attempt to reach the historical support level of 1.1954 (blue dotted line). Once this level is tested, it may further rise to the target set at 1.1980 – the pullback level of 23.6% (blue dotted line).
Alternatively, the price from the level of 1.1906 (closing of yesterday's daily candle) may continue to decline to the target of 1.1836 – the pullback level of 76.4% (red dotted line). After testing this level, it may rise to the target of 1.1892 – the lower fractal (blue dotted line).
