Trend analysis (pic. 1).
On Wednesday, the pair may continue to rise to 1.1293, the retreatment level of 14.6% (blue dotted line) from the level of 1.1247 (the closing of yesterday's daily candlestick). After testing this level, the price may reach the target level of 1.1335, the retreatment level of 23.6% (blue dotted line).
Pic. 1 (daily chart).
Complex analysis:
-technical indicators– up;
- Fibonacci retracement levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger bands - down;
- weekly chart - up.
Conclusion:
Today, the price may jump to 1.1293, the retracement level of 14.6% (blue dotted line) from the level of 1.1247 (the closing of yesterday's daily candlestick). After testing this level, the price may reach the target level of 1.1335, the retreatment level of 23.6% (blue dotted line).
An unlikely scenario is that it may decline to the target level of 1.1174, the lower fractal (blue dotted line) from the level of 1.1247 (the closing of yesterday's daily candlestick).
