Trend analysis (Fig. 1).
The market may move up on Friday from the level of 1.1310 (closing of yesterday's daily candle) to 1.1343, the 23.6% retracement level (yellow dotted line). After testing this level, the price may continue to move up to the target level of 1.1370, the 38.2% retracement level (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 - up;
- Weekly chart - up.
General conclusion:
The price may move up from the level of 1.1310 (closing of yesterday's daily candle) to 1.1343, the 23.6% retracement level (yellow dotted line). After testing this level, the price may continue to move up to the target level of 1.1370, the 38.2% retracement level (yellow dotted line).
Alternative scenario: from the level of 1.1310 (closing of yesterday's daily candle), the price may move up to 1.1327, the 14.6% retracement level (yellow dotted line). After testing this level, the price may move down to the target level of 1.1301, the lower fractal (yellow dotted line), where the price may begin to move up.
