Trend analysis (Fig. 1).
Today, the market from the level of 1.1770 (closing of last Friday's daily candlestick) may start moving upwards with the target at 1.1827 - the 14.6% retracement level (blue dashed line). When this level is tested, the upward movement may continue with the target at 1.1873 - 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 1.1770 (closing of last Friday's daily candlestick) may start moving upwards with the target at 1.1827 - the 14.6% retracement level (blue dashed line). When this level is tested, the upward movement may continue with the target at 1.1873 - the 23.6% retracement level (blue dashed line).
Alternative scenario: the price from the level of 1.1770 (closing of last Friday's daily candlestick) may continue to move downward with the target at 1.1752 - the lower fractal (blue dashed line). Once this level is tested, it may move downward with the target of 1.1703 - the lower border of the Bollinger line indicator (black dashed line).
