Trend analysis (Fig. 1).
Today, the market from the level of 1.1835 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of testing the 14.6% retracement level, 1.1843 (blue dotted line). Upon reaching this level, the price may continue to move upward with the target at 1.1888 - the 23.6% retracement level (blue dotted line). And from this level, the upward movement is likely to continue.
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 market from the level of 1.1835 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of testing the 14.6% retracement level, 1.1843 (blue dotted line). Upon reaching this level, the price may continue to move upward with the target at 1.1888 - the 23.6% retracement level (blue dotted line). And from this level, the upward movement is likely to continue.
Alternative scenario: from the level of 1.1835 (closing of yesterday's daily candlestick), it may start moving down with the target at 1.1772 - the lower fractal (blue dashed line). And once this level is reached, it is possible to move upward.
