Trend analysis (Fig. 1)
The price from the level of 1.3320 (closing of yesterday's daily candle) will make an attempt to continue rising to the target of 1.3373 – the upper fractal (daily candle from 12/16/21) today. Once this level is tested, it may resume its growth to the target of 1.3422 – the pullback level of 38.2% (yellow dotted line).
Figure 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:
Today, the price from the level of 1.3320 (closing of yesterday's daily candle) will try to continue its upward movement to the target of 1.3373 – the upper fractal (daily candle from 12/16/21). After testing this level, it may further increase to the target of 1.3422 – the pullback level of 38.2% (yellow dotted line).
Alternatively, the price from the level of 1.3320 (closing of yesterday's daily candle) will try to continue moving up to the target of 1.3373 – the upper fractal (daily candle from 12/16/21). Following the test of this level, it may start declining to the target of 1.3282 – 13 average EMA (yellow thin line).
