Trend analysis (Fig. 1).
The market may move up on Wednesday from the level of 1.1415 (close of yesterday's daily candle) to the target level of 1.1483, the upper fractal (red dotted line). After testing this level, the price may continue to move up to the target level of 1.1490, the resistance line (bold blue line). A downward rollback is possible from this line.
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
The price may move up from the level of 1.1415 (close of yesterday's daily candle) to the target level of 1.1483, the upper fractal (red dotted line). After testing this level, the price may continue to move up to the target level of 1.1490, the resistance line (bold blue line). A downward rollback is possible from this line.
Alternative scenario: from the level of 1.1415 (close of yesterday's daily candle), the price may start moving down to the target level of 1.1384, the historical support level (blue dotted line). When testing this level, the price may move upward to the target level of 1.1483, the upper fractal (red dotted line).
