Trend analysis (Fig. 1).
The market may move upward from the level of 1.3655 (closing of yesterday's daily candle) to 1.3679 - the 14.6% retracement level (yellow dashed line). A test of this level may lead to continued upward movement with the target of 1.3703 - the 23.6% 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;
- Weekly chart - up;
- Bollinger lines - up.
General conclusion:
Today, the price may move upward from the level of 1.3655 (closing of yesterday's daily candle) to 1.3679 - the 14.6% retracement level (yellow dashed line). A test of this level may lead to continued upward movement with the target of 1.3703 - the 23.6% retracement level (yellow dashed line).
Alternative scenario: from the level of 1.3655 (closing of yesterday's daily candle), the price may move downwards to 1.3601 - the lower fractal (blue dotted line). A test of this level may lead to continued upward movement with the target of 1.3679 - the 14.6% retracement level (yellow dashed line).
