Trend analysis (Fig. 1).
Today, the market from the level of 1.3724 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the 50.0% retracement level - 1.3791 (blue dotted line). When this level is tested, it is possible to continue working upwards with the target of 1.3835 - the 50.0% 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;
- Weekly chart - up;
- Bollinger lines - down.
General conclusion:
Today, the price from the level of 1.3724 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the 50.0% retracement level - 1.3791 (blue dotted line). When this level is tested, it is possible to continue working upwards with the target of 1.3835 - the 50.0% retracement level (blue dashed line).
Alternative scenario: the price from the level of 1.3724 (closing of yesterday's daily candlestick) will try to start moving downwards in order to reach the 76.4% retracement level, which is 1.3668 (red dotted line). Once this level is tested, the upward movement may continue.
