Trend analysis (Fig. 1).
Today, the market from the level of 1.1674 (closing of yesterday's daily candlestick) will move upward and try to reach the 14.6% retracement level, which is 1.1701 (blue dotted line). After testing this level, it is possible to continue moving upward with the target at 1.1723 - 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 1.1674 (closing of yesterday's daily candlestick) will move upward and try to reach the 14.6% retracement level, which is 1.1701 (blue dotted line). After testing this level, it is possible to continue moving upward with the target at 1.1723 - the 23.6% retracement level (blue dashed line).
Alternative scenario: the price from the level of 1.1674 (closing of yesterday's daily candlestick) will move upward and try to reach the 14.6% retracement level, which is 1.1701 (blue dashed line). After testing this level, it is possible to continue moving downward with the target at 1.1608 - the lower border of the Bollinger line indicator (black dashed line).
