Trend analysis (Fig. 1).
Today, the market from the level of 1.3716 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.3791 - the 50% retracement level (blue dotted line). When this level is tested, it is possible to continue working upwards.
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 1.3716 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.3791 - the 50% retracement level (blue dotted line). When this level is tested, it is possible to continue working upwards.
Alternative scenario: from the level of 1.3716 (closing of yesterday's daily candlestick), it will try to continue moving upward with the target of 1.3746 - the 38.2% retracement level (blue dotted line). Once this level is tested, it is possible to work downward with the target of 1.3668 - the 76.4% retracement level (red dashed line). When this line is tested, it is possible to work upwards.
