Trend analysis (Fig. 1)
The price from the level of 1.3701 (closing of yesterday's daily candlestick) will make an attempt to continue its growth to the target of 1.3747 – the upper fractal (daily candle from 1/13/2022) today. After testing this level, it may start declining to the target of 1.3662 – the pullback level of 14.6% (red 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:
Today, the price from the level of 1.3701 (closing of yesterday's daily candlestick) will try to further increase to the target of 1.3747 – the upper fractal (daily candle from 1/13/2022). Once this level is tested, the beginning of the decline can be expected to the target of 1.3662 – the pullback level of 14.6% (red dotted line).
Alternatively, the price from the level of 1.3701 (closing of yesterday's daily candlestick) can also attempt to move up to the target of 1.3747 – the upper fractal (daily candle from 1/13/2022) and then rise higher to the target of 1.3800 – the historical resistance level (blue dotted line) after testing it.
