Trend analysis (Figure 1).
On Wednesday, the market from the level of 1.1285 (yesterday's daily candle close) may start moving upwards with the target 1.1322, the upper fractal (daily candle from 4.1.2022). After testing this level, the price may continue to move upwards with the target of 1.1379, the pullback level of 38.2% (blue dotted line).
Figure 1 (daily chart).
Complex analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger bands - down;
- weekly chart - up.
Conclusion:
Today the price from the level of 1.1285 (yesterday's daily candlestick close) may start moving upwards with the target 1.1322, the upper fractal (daily candlestick from 4.1.2022). After testing this level, the price may continue upwards with the target 1.1379, the pullback level of 38.2% (blue dotted line).
Alternate scenario: from the level of 1.1285 (yesterday's daily candlestick close) downward movement may continue with the target of 1.1262, a pullback level of 61.8% (red dotted line). A move upwards is possible if this line is tested.
