Trend analysis (Fig. 1).
Today, the market from the level of 1.1744 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.1758 - the 38.2% retracement level (blue dotted line). The price, having tested this level, may continue to work upward with the target at 1.1787 - the 50.0% retracement (blue dashed line). From this level, the price may roll back down.
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 1.1744 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.1758 - the 38.2% retracement level (blue dotted line). The price, having tested this level, may continue to work upward with the target at 1.1787 - the 50.0% retracement (blue dashed line). From this level, the price may roll back down.
Alternative scenario: the price from the level of 1.1744 (closing of yesterday's daily candlestick) will try to start moving down with the target at 1.1706 - the historical support level (blue dotted line). After testing this line, the price is likely to start working upwards with the target at 1.1723 - the 23.6% retracement level (blue dashed line).
