Trend analysis (Fig. 1).
The price from the level of 1.1235 (closing of yesterday's daily candlestick) will try to reach the level of 1.1259 – the pullback level of 38.2% (yellow dotted line) today while rising. After testing this level, it may further grow in order to reach the level of 1.1301 – the pullback level of 50.0% (yellow dotted line), and then, it can most likely continue the upward trend.
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:
Today, the price from the level of 1.1235 (closing of yesterday's daily candlestick) will make an attempt to reach the level of 1.1259 – the pullback level of 38.2% (yellow dotted line). Once this level is tested, the upward movement may continue to the level of 1.1301 – the pullback level of 50.0% (yellow dotted line), and after testing it, the price will most likely further increase.
Alternatively, the price from the level of 1.1235 (closing of yesterday's daily candlestick) will rise and try to reach the resistance line of 1.1264 (red thick line). After testing this line, it may start declining in order to reach the historical support level of 1.1190 (blue dotted line).
