Trend analysis (Fig. 1).
Today, the market from the level of 1.1708 (closing of yesterday's daily candlestick) will try to start moving upwards with the target of 1.1735 - the 14.6% retracement level (blue dotted line). When this level is tested, the upward movement may continue with the target at 1.1753 - the 23.6% retracement level (blue dashed line). From this level, it is likely to continue moving upward.
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger lines - down;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.1708 (closing of yesterday's daily candlestick) will try to start moving upwards with the target of 1.1735 - the 14.6% retracement level (blue dotted line). When this level is tested, the upward movement may continue with the target at 1.1753 - the 23.6% retracement level (blue dashed line). From this level, it is likely to continue moving upward.
Alternative scenario: from the level of 1.1708 (closing of yesterday's daily candlestick), it will try to continue moving down with the target at 1.1643 - the lower border of the Bollinger line indicator (black dashed line). Once this level is tested, it may continue moving upward with the target at 1.1727 - the resistance line (white bold line).
