Trend analysis (Fig. 1).
The market may move up on Wednesday, from the level of 1.1268 (closing of Tuesday's daily candle) with the target at 1.1305 - the 23.6% retracement level (blue dashed line). After testing this level, the price may continue to move u with the target at 1.1340 - the 21-day EMAs (black thin line).
Fig. 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:
The price may move up from the level of 1.1268 (closing of Tuesday's daily candle) with the target at 1.1305 - the 23.6% retracement level (blue dashed line). After testing this level, the price may continue to move up with the target at 1.1340 - the 21-day EMAs (black thin line).
Unlikely scenario: downward movement from the level of 1.1268 (closing of Tuesday's daily candle) with the target of 1.1230 - the support line (blue bold line).
