Trend analysis (Fig. 1).
The market may move upward from the level of 1.3669 (closing of Friday's daily candle) with the target of 1.3724 - the 38.2% retracement level (yellow dashed line). Upon reaching this level, the price may continue to move up with the target of 1.3760 - the 50.0% retracement level (yellow dashed line).
Fig. 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 may move upward from the level of 1.3669 (closing of Friday's daily candle) with the target of 1.3724 - the 38.2% retracement level (yellow dashed line). Upon reaching this level, the price may continue to move up with the target of 1.3760 - the 50.0% retracement level (yellow dashed line).
Unlikely scenario: from the level of 1.3669 (closing of Friday's daily candlestick), the price may move downward with the target at 1.3608 - the lower fractal (the daily candlestick from 09/22/2021). When testing this level, the price may move upward with the target at 1.3652 - the 14.6% retracement level (yellow dashed line).
