Trend analysis (Fig. 1).
The price from the level of 1.1326 (closing of yesterday's daily candle) is likely to start rising to the target of 1.1354 – the pullback level of 23.6% (yellow dotted line) today. Once this level is tested, it may further rise to the target of 1.1378 – the pullback level of 23.6% (yellow dotted line).
Fig 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - up
- Fibonacci levels - up
- Volumes - up
- Candlestick analysis - up
- Trend analysis - up
- Bollinger bands - down
- Weekly chart - up
General conclusion:
Today, the price from the level of 1.1326 (closing of yesterday's daily candle) may begin its growth to the target of 1.1354 – the pullback level of 23.6% (yellow dotted line). After testing it, the upward movement may continue to the target of 1.1378 – the pullback level of 23.6% (yellow dotted line).
Alternatively, the price from the level of 1.1326 (closing of yesterday's daily candle) may continue to decline to the target of 1.1299 – the pullback level of 61.8% (red dotted line). After testing this level, it may now move up to the target of 1.1339 – the pullback level of 14.6% (yellow dotted line).
