Trend analysis (Fig. 1).
Today, the market from the level of 1.3741 (closing of last Friday's daily candlestick) may start moving upwards with the target of 1.3777, which is the resistance line (yellow bold line). When this line is tested, an upward movement is possible with the target at 1.3823 - the 38.2% retracement level (blue dashed line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.3741 (closing of last Friday's daily candlestick) may start moving upwards with the target of 1.3777, which is the resistance line (yellow bold line). When this line is tested, an upward movement is possible with the target at 1.3823 - the 38.2% retracement level (blue dashed line).
Alternative scenario: the price from the level of 1.3741 (closing of last Friday's daily candlestick) may start moving upwards with the target of 1.3777, which is the resistance line (yellow bold line). From this line, it is likely to move downward with the target of 1.3677 - the 50.0% retracement level (red dashed line).
