Trend analysis
The price from the level of 1.1789 (closing of the last weekly candle) may continue rising to the target of 1.1893 – the pullback level of 38.2% (blue dotted line). After reaching this level, the upward movement may extend to the target of 1.1964 – the pullback level of 50.0% (blue dotted line).
Figure 1 (weekly chart)
Comprehensive analysis:
- Indicator analysis - up
- Fibonacci levels - up
- Volumes - up
- Candlestick analysis - up
- Trend analysis - up
- Bollinger lines - up
- Monthly chart - up
An upward movement can be concluded based on a comprehensive analysis.
The overall result of the candlestick calculation based on the weekly chart: the price will most likely move in an upward trend, without a lower shadow (Monday - up) and with an upper shadow (Friday - down) in the weekly white candlestick.
The first upward target is the level of 1.1893 – the pullback level of 38.2% (blue dotted line). After reaching it, the price may further rise to the target of 1.1964 – the pullback level of 50.0% (blue dotted line).
Alternatively, the price from the level of 1.1789 (closing of the last weekly candle) may also further rise by testing the level of 1.1893 – the pullback level of 38.2% (blue dotted line). Once this level is reached, it may decline to the target of 1.1844 – 13 middle EMA (yellow thin line).
