Trend analysis (pic. 1).
On Wednesday, from the level of 1.1595 (the closing of yesterday's daily candlestick), the pair may start moving up with a target of 1.1615 – a retreatment level of 23.6% (yellow dotted line). When testing this level, it may continue the upward movement to 1.1671, the retreatment level of 38.2% (yellow dotted line).
Pic. 1 (daily chart).
Complex analysis:
- Indicator analysis – up;
- Fibonacci retracement levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger bands - down;
- weekly chart-up.
Conclusion
Today, the price may start moving up from the level of 1.1595 (the closing of yesterday's daily candlestick) to 1.1615, the retracement level of 23.6% (yellow dotted line). When testing this level, it may continue the upward movement to 1.1671, the retreatment level of 38.2% (yellow dotted line).
Alternatively, the pair may resume the downward movement from the level of 1.1585 (the closing of yesterday's daily candlestick) with the target level of 1.1579, the retreatment level of 61.8% (red dotted line).
When testing this level, it may decline to 1.1558, the retreatment level of 76.4% (red dotted line).
