Trend analysis (Figure 1)
On Monday the market from the closing level of Friday's daily candlestick 1.3402 may continue to move upwards with the target of 1.3466, a pullback level of 23.6% (yellow dotted line). Once this level is reached, the price will continue to move upwards with the target of 1.3556, a pullback level of 23.6% (yellow dotted line).
Figure 1 (daily chart)
Complex analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger bands - up;
- weekly chart - up.
Conclusion:
Today the price from Friday's daily candlestick closing level of 1.3402 may continue upward movement with the target 1.3466, a pullback level of 23.6% (yellow dashed line). Upon reaching this level, the price will continue to move upwards with the target 1.3556, a pullback level of 23.6% (yellow dotted line).
Unlikely scenario: the price from the closing level of Friday's daily candle at 1.3402 could start moving downwards with the target 1.3352, the lower fractal (yellow dotted line). On reaching this level, the price may start moving upwards with the target 1.3423, the 14.6% pullback level (yellow dotted line).
