Trend analysis (Fig. 1).
Today, the market from the level of 1.3832 (closing of yesterday's daily candlestick) will try to start moving upwards in order to reach the retracement level of 23.6% - 1.3891 (blue dotted line). Once this level is tested, it is possible to continue working upwards with the target of 1.3956 - the 38.2% retracement level (blue dashed line). Upon reaching this line, it is likely to roll back downward.
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - up.
General conclusion:
Today, the price from the level of 1.3832 (closing of yesterday's daily candlestick) will try to start moving upwards in order to reach the retracement level of 23.6% - 1.3891 (blue dotted line). Once this level is tested, it is possible to continue working upwards with the target of 1.3956 - the 38.2% retracement level (blue dashed line).
Alternative scenario: the price from the level of 1.3832 (closing of yesterday's daily candlestick) will try to continue moving downwards in order to reach the lower fractal - 1.3785 (blue dotted line). Once this level is tested, it is possible to work upwards with the target of 1.3850 - the 14.6% retracement level (blue dashed line).
