Trend analysis (Fig. 1).
The market may move up on Friday from the level of 1.3378 (close of yesterday's daily candle) to the target level of 1.3413, the 14.6% retracement level (blue dotted line). After testing this level, the price may continue to move up to the target level of 1.3448, the 23.6% retracement level (blue 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 today from the level of 1.3378 (close of yesterday's daily candle) to the target level of 1.3413, the 14.6% retracement level (blue dotted line). After testing this level, the price may continue to move up to the target level of 1.3448, the 23.6% retracement level (blue dotted line).
Unlikely scenario: from the level of 1.3378 (close of yesterday's daily candle), the price may begin to move up to the target level of 1.3413, the 14.6% retracement level (blue dotted line). After testing this level, the price may move down to the target level of 1.3305, the 76.4% retracement level (red dotted line), where the price may begin to move up.
