Trend analysis (Fig. 1).
The market may move up on Thursday from the level of 1.1346 (closing of yesterday's daily candle) to test the resistance level at 1.1381 (blue bold line). When this line is reached, the price may roll back down to the target level of 1.1331, the 5-day EMA (red thin 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 market may move up from the level of 1.1346 (closing of yesterday's daily candle) to test the resistance level at 1.1381 (blue bold line). When this line is reached, the price may roll back down to the target level of 1.1331, the 5-day EMA (red thin line).
Alternative scenario: from the level of 1.1346 (closing of yesterday's daily candle), the price may start moving down to test the target level of 1.1319, the 21-day EMA (black thin line). When this line is reached, the price may start to move up to the target level of 1.1360, the upper fractal (red dotted line).
