Trend analysis (Fig. 1)
The price from the level of 1.1318 (closing of yesterday's daily candle) will try to start rising today in order to test the level of 1.1364 – the pullback level of 23.6% (blue dotted line). After this level is reached, it may further grow to the target of 1.1427 – the pullback level of 38.2% (blue dotted line).
Figure 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - up
- Fibonacci levels - up
- Volumes - up
- Candlestick analysis - up
- Trend analysis - up
- Bollinger lines - down
- Weekly chart - up
General conclusion:
Today, the price from the level of 1.1318 (closing of yesterday's daily candle) will make an attempt to start increasing to test the level of 1.1364 – the pullback level of 23.6% (blue dotted line). After reaching it, the upward movement may resume to the target of 1.1427 – the pullback level of 38.2% (blue dotted line).
Alternatively, the price from the level of 1.1325 (closing of yesterday's daily candle) will try to continue declining with the goal of testing the lower fractal of 1.1263 (blue dotted line). When this level is reached, the price may start moving up to the target of 1.1326 – the pullback level of 14.6% (yellow dotted line).
