Trend analysis (Fig. 1).
The market may move up on Wednesday from the level of 1.1308 (closing of yesterday's daily candle) to the target level of 1.1343, the upper fractal (red dotted line). After testing this level, the price may continue to move upward to the target level of 1.1381, the resistance line (blue bold line).
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - down;
- Weekly chart - up.
General conclusion:
The price may move up from the level of 1.1308 (closing of yesterday's daily candle) to the target level of 1.1343, the upper fractal (red dotted line). After testing this level, the price may continue to move upward to the target level of 1.1381, the resistance line (blue bold line).
Alternative scenario: from the level of 1.1308 (closing of yesterday's daily candle), the price may move down to the target level of 1.1275, the 61.8% retracement level (red dotted line). After testing this level, the price may begin to move up.
