Trend analysis (Fug.1)
On Wednesday, the price is trying to rise to the upper fractal located at 1.3832 (the blue dotted line) from 1.3762 (the closing level of yesterday's daily candlestick). If the quote tests this target, it may well increase to the upper fractal located at 1.3910 (the yellow dotted line).
Fig. 1 (daily chart)
Comprehensive analysis:
- indicator analysis - upward trend
- Fibonacci levels analysis - upward trend
- volume analysis - upward trend
- candlestick analysis - upward trend
- trend analysis - upward trend
- weekly chart analysis - upward trend
- Bollinger bands analysis - upward trend
Conclusion:
Today, the price is trying to rise to the upper fractal located at 1.3832 (the blue dotted line) from 1.3762 (the closing level of yesterday's daily candlestick). If the quote tests this target, it may well increase to the upper fractal located at 1.3910 (the yellow dotted line).
Alternatively, from 1.3762 (the closing level of yesterday's daily candlestick), the price may go down to the 23.6% retracement level of 1.3732 (the blue dotted line). If the quote tests this mark, it is likely to start rising with the target seen at 1.3792 - the 76.4% retracement level (the yellow dotted line).
