Today, the price may continue to move up. And based on the economic calendar, news is expected at 12.30 and 14.00 UTC (dollar).
Trend analysis (Fig. 1).
The market from the level of 1.1802 (the closing level of yesterday's daily candlestick) will try to continue moving upward with the target at 1.1827 - the 14.6% retracement level (blue dotted line). Once the price tests this level, it may continue to work upward 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 - up;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.1802 (the closing level of yesterday's daily candlestick) will try to continue moving upward with the target at 1.1827 - the 14.6% retracement level (blue dotted line). Once the price tests this level, it may continue to work upward with the target at 1.1873 - the 23.6% retracement level (blue dashed line).
Alternative scenario: from the level of 1.1802 (the closing level of yesterday's daily candlestick), the price will try to continue moving upward with the target at 1.1827 - the 14.6% retracement level (blue dashed line). After testing this level, the price may start working downward, with the target at 1.1752 - the lower fractal (blue dashed line).
