Trend analysis (Fig. 1).
Today, the market from the level of 1.1794 (closing of last Friday's daily candlestick) may start moving down with the target of 1.1775 - 8 EMA (blue thin line). When this line is tested, it is likely to continue moving upward with the target of 1.1831 - the 61.8% retracement level (blue dashed line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - down;
- Weekly chart - down.
General conclusion:
Today, the price from the level of 1.1794 (closing of last Friday's daily candlestick) may start moving down with the target of 1.1775 - 8 EMA (blue thin line). When this line is tested, it is likely to continue moving upward with the target of 1.1831 - the 61.8% retracement level (blue dashed line).
Alternative scenario: the price from the level of 1.1794 (closing of last Friday's daily candlestick) may continue to move upward with the target of 1.1860 - the 76.4% retracement level (blue dashed line). When this level is tested, it is possible to continue moving upward with the target of 1.1878 - the 85.4% retracement level (blue dashed line).
