Trend analysis (Fig. 1).
Today, the market from the level of 1.1896 (closing of yesterday's daily candlestick) will try to start moving upwards with the target of 1.1964 - the resistance line (white thick line). After this line is tested, it is likely to continue moving upwards with the target of 1.2007 - the 38.2% retracement level (blue dotted line). And when this level is reached, the upward movement may continue with the target of 1.2056 - 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 - up;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.1896 (closing of yesterday's daily candlestick) will try to start moving upwards with the target of 1.1964 - the resistance line (white thick line). After this line is tested, it is likely to continue moving upwards with the target of 1.2007 - the 38.2% retracement level (blue dotted line). And when this level is reached, the upward movement may continue with the target of 1.2056 - the 50.0% retracement level (blue dashed line).
Alternative scenario: from the level of 1.1896 (closing of yesterday's daily candlestick), it will try to start moving up with the target of 1.1930 - 8 EMA (blue thin line). If this line is tested, it may continue moving downwards with the target at 1.1846 - the lower fractal (blue dashed line).
