Trend analysis (Fig. 1).
The market may move up on Monday from the level of 1.1323 (closing of Friday's daily candle) to the target level of 1.1379, the 38.2% retracement level (blue dotted line). When testing this level, the price may continue to move upward to the target level of 1.1439, the 50.0% retracement level (blue dotted 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 1.1323 (closing of Friday's daily candle) to the target level of 1.1379, the 38.2% retracement level (blue dotted line). When testing this level, the price may continue to move upward to the target level of 1.1439. the 50.0% retracement level (blue dotted line).
Alternative scenario: from the level of 1.1323 (close of Friday's daily candle), the price may start moving down to the target level of 1.1291, the 50% retracement level (red dotted line). When testing this level, the price may start moving up with the target at 1.1342 - the upper fractal (red dotted line).
