Trend analysis (Fig. 1).
Today, the market from the level of 1.3878 (closing of last Friday's daily candlestick) may start moving upwards with the target at 1.3940 - the resistance line (red bold line). And after this line is tested, the upward movement may continue with the target of 1.4009 - the 50.0% retracement level (blue dashed line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.3878 (closing of last Friday's daily candlestick) may start moving upwards with the target at 1.3940 - the resistance line (red bold line). And after this line is tested, the upward movement may continue with the target of 1.4009 - the 50.0% retracement level (blue dashed line).
Alternative scenario: from the level of 1.3878 (closing of last Friday's daily candlestick), it may continue to move upward with the target at 3940 - the resistance line (red bold line). When this line is tested, it may move downward with the target at 1.3889 - the 61.8% retracement level (red dashed line).
