Trend analysis (Fig. 1).
The market may move up on Friday from the level of 1.1326 (closing of yesterday's daily candle) to reach the upper fractal 1.1360 (red dotted line). After testing this level, the upward movement may continue to the target level of 1.1379, the resistance line (blue bold line).
Fig. 1 (daily chart)
Comprehensive analysis:
- Technical 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 1.1326 (closing of yesterday's daily candle) to reach the upper fractal 1.1360 (red dotted line). After testing this level, the upward movement may continue with the target at 1.1379, the resistance line (blue bold line).
Alternative scenario: from the level of 1.1326 (closing of yesterday's daily candle), the price may start moving upward to the upper fractal 1.1342 (daily candle from 12/22/2021). After testing this level, the price may move down to the target level of 1.1314, 21-day EMA (black thin line).
