Trend analysis (Fig. 1).
The market may move up on Friday from the level of 1.1292 (closing of Thursday's daily candle) to 1.1336, the 21-day EMA (black thin line). After testing this line, the price may continue to move up with the target at 1.1379, the 38.2% retracement level (blue dashed line).
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
The price may move up from the level of 1.1292 (closing of Thursday's daily candle) to 1.1336, the 21-day EMA (black thin line). After testing this line, the price may continue to move up with the target at 1.1379, the 38.2% retracement level (blue dashed line).
Unlikely scenario: from the level of 1.1292 (closing of Thursday's daily candle), the price may start moving up with the target of reaching 1.1336, the 21-day EMA (black thin line). After testing this line, the price may move down to 1.1240, the support level (blue bold line).
