Trend analysis (Fig. 1).
The market may move upward from the level of 1.1724 (closing of yesterday's daily candle) with the target of 1.1749 - the 23.6% retracement level (yellow dashed line). A test of this level may lead to continued upward movement with the target at 1.1779 - the 38.2% retracement level (yellow dashed line). Much will depend on the news that comes out at 18:00 and 18:30 UTC.
Fig. 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 may move upward from the level of 1.1724 (closing of yesterday's daily candle) with the target of 1.1749 - the 23.6% retracement level (yellow dashed line). A test of this level may lead to continued upward movement with the target at 1.1779 - the 38.2% retracement level (yellow dashed line).
Alternative scenario: from the level of 1.1724 (closing of yesterday's daily candle), the price may move down with the target at 1.1700 - the lower fractal (yellow dashed line). A test of this level may lead to an upward reversal with the target at 1.1730 - the 14.6% retracement level (yellow dashed line).
