Trend analysis
This week, the price from the level of 1.3863 (close of the last weekly candlestick) is expected to rise to the target of 1.3912 – the pullback level of 50.0% (yellow dotted line). Once this line is reached, it is possible to further rise to the target of 1.3990 – the pullback level of 61.8% (yellow dotted line).
Figure 1 (weekly chart)
- Comprehensive analysis:
- Indicator analysis - up
- Fibonacci levels - up
- Volumes - up;
- Candlestick analysis - up
- Trend analysis - up
- Bollinger lines - up
Monthly chart - down
An upward movement can be concluded based on a comprehensive analysis.
The overall result of the candlestick calculation based on the weekly chart: the price will most likely move in an upward trend, both without the first lower shadow (Monday - up) and the second upper shadow (Friday - up) in the weekly white candlestick.
The price from the level of 1.3863 (closing of the last weekly candlestick) will rise to the target of 1.3912 – the pullback level of 50.0% (yellow dotted line). After reaching this line, the upward movement may extend to the target of 1.3990 – the pullback level of 61.8% (yellow dotted line).
As an alternative, the price from the level of 1.3863 (closing of the last weekly candlestick) may decline to the target of 1.3766 - 34 average EMA (lilac thin line). After testing it, it may rise again to the target of 1.3912 – the pullback level of 50.0% (yellow dotted line).
