Trend analysis (fig. 1).
On Monday, the market may start upward movement from 1.1560 (Friday's daily candlestick close) with the target at 1.1580, the 14.6% retracement level (yellow dotted line). If this level is tested, upward movement with the target at 1.1615, the 23.6% retracement level (yellow dotted line) is observed.
Fig. 1 (daily chart).
Complex analysis:
- indicator analysis - uptrend;
- Fibonacci levels - uptrend;
- volumes - uptrend;
- candlestick analysis - uptrend;
- trend analysis - uptrend;
- Bollinger bands - uptrend;
- weekly chart - uptrend.
General conclusion:
Today, the price may start upward movement from 1.1560 (Friday's daily candle close) with the target at 1.1580, the 14.6% retracement level (yellow dotted line). If this level is tested, upward movement with the target at 1.1615, the 23.6% retracement level (yellow dotted line) is observed.
Unlikely scenario: the price may start upward movement from 1.1560 (Friday's daily candle closing) with the target at 1.1580, the 14.6% retracement level (yellow dotted line). The price may continue moving downward from this level with the target at 1.1524, the lower fractal (yellow dotted line). If this level is tested, upward movement is possible with the target at 1.1580, the 14.6% retracement level (yellow dotted line).
