Trend analysis (Fig. 1).
Today, the market from the level of 1.3840 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.3922 - the 38.2% retracement level (blue dotted line). Once this level is tested, it is possible to continue moving upwards with the target of 1.3982 - the 50.0% retracement level (blue dashed line). And when this level is reached, a rollback downward is possible.
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 1.3840 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.3922 - the 38.2% retracement level (blue dotted line). Once this level is tested, it is possible to continue moving upwards with the target of 1.3982 - the 50.0% retracement level (blue dashed line). And when this level is reached, a rollback downward is possible.
Alternative scenario: from the level of 1.3840 (closing of yesterday's daily candlestick), it will try to continue moving upwards with the target of 1.3922 - the 38.2% retracement level (blue dotted line). Once this level is tested, it is possible to work downward with the target at 1.3890 - the 61.8% retracement level (red dashed line).
