Trend analysis (Fig. 1)
The price from the level of 1.1605 (closing of yesterday's daily candle) will attempt to rise today in order to test the level of 1.1615 – the pullback level of 23.6% (yellow dotted line). After this level is reached, it may continue its growth to the target of 1.1671 – the pullback level of 38.2% (yellow dotted line).
Figure 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 from the level of 1.1605 (closing of yesterday's daily candle) is expected to start moving up in order to test the level of 1.1615 – the pullback level of 23.6% (yellow dotted line). After reaching it, the upward movement may continue to the target of 1.1671 – the pullback level of 38.2% (yellow dotted line).
Alternatively, the price from the level of 1.1605 (closing of yesterday's daily candle) may begin to decline to be able to test the level of 1.1558 – the pullback level of 76.4% (red dotted line). After reaching this level, it may turn upward to the target of 1.1615 – the pullback level of 23.6% (yellow dotted line).
