Trend analysis (Fig. 1).
The market may move up on Friday from the level of 1.3215 (closing of Thursday's daily candle) with the target of 1.3264, the 14.6% retracement level (yellow dashed line). After testing this level, the price may continue to move up with the target at 1.3324, the 23.6% retracement level (yellow 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 1.3215 (closing of Thursday's daily candle) with the target of 1.3264, the 14.6% retracement level (yellow dashed line). After testing this level, the price may continue to move upward with the target at 1.3324, the 23.6% retracement level (yellow dashed line).
Unlikely scenario: from the level of 1.3215 (closing of Thursday's daily candle), the price may move up with the target of 1.3264, the 14.6% retracement level (yellow dashed line). After testing this level, the price may begin to move down with the target at 1.3167, the lower fractal (yellow dashed line).
