Trend analysis (Fig. 1).
Today, the market from the level of 1.1698 (closing of last Friday's daily candlestick) may continue to move upward with the target at 1.1723 - the 23.6% retracement level (blue dotted line). When this line is tested, the upward movement may continue with the target of 1.1759 - the 38.2% 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 - down;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.1698 (closing of last Friday's daily candlestick) may continue to move upward with the target at 1.1723 - the 23.6% retracement level (blue dotted line). When this line is tested, the upward movement may continue with the target of 1.1759 - the 38.2% retracement level (blue dashed line).
Alternative scenario: the price from the level of 1.1698 (closing of last Friday's daily candlestick) may continue to move upward with the target at 1.1723 - the 23.6% retracement level (blue dashed line). When this line is tested, it is likely to move downward with the target of 1.1678 - the support line (white thick line). Once this line is tested, it may move upward with the target of 1.1701 - the 14.6% retracement level (blue dashed line).
