Trend analysis (Fig. 1).
Today, the market from the level of 1.3829 (closing of yesterday's daily candlestick) will move down to the target of 1.3804 - the 75.6% retracement level (red dotted line). Once this level is tested, it is possible to move up with the target of 1.3850 - the 14.6% retracement level (blue dashed line). And when this level is reached, the upward movement may continue with the target of 1.3891 - the 23.6% 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 - down;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.3829 (closing of yesterday's daily candlestick) will move down to the target of 1.3804 - the 75.6% retracement level (red dotted line). Once this level is tested, it is possible to move up with the target of 1.3850 - the 14.6% retracement level (blue dashed line). And when this level is reached, the upward movement may continue with the target of 1.3891 - the 23.6% retracement level (blue dashed line).
Alternative scenario: from the level of 1.3829 (closing of yesterday's daily candlestick), it may continue to move downward with the target at 1.3785 - the lower fractal (blue dotted line). And from this level, it may start rising with the target of 1.3850 - the 14.6% retracement level (blue dashed line).
