Trend analysis (Fig. 1).
The market from the level of 1.3814 (the closing level of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.3901 - the 50% retracement level (blue dotted line). Once this line is tested, it is possible to start moving downward.
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, from the level of 1.3814 (the closing level of yesterday's daily candlestick), the price will try to continue moving upwards with the target of 1.3901 - the 50% retracement level (blue dotted line). Once this line is tested, it is possible to start moving downward.
Alternative scenario: from the level of 1.3814 (the closing level of yesterday's daily candlestick), the price will try to start moving down with the target of 1.3800 - the historical support level (blue dotted line). Once this line is tested, it is possible to continue working downwards with the target of 1.3783 - the support line (yellow bold line). And from this line, it is possible to work upwards.
