Trend analysis (Fig. 1).
The market may move up on Tuesday from the level of 1.1305 (closing of yesterday's daily candle) to 1.1328, the 23.6% retracement level (blue dotted line). When testing this level, the price may continue to move upwards to 1.1357, the 38.2% retracement level (blue dotted line), and, most likely, after reaching this level, the price will continue to move upwards.
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 1.1305 (closing of yesterday's daily candle) to 1.1328, the 23.6% retracement level (blue dotted line). When testing this level, the price may continue to move upwards to 1.1357, the 38.2% retracement level (blue dotted line), and, most likely, after reaching this level, the price will continue to move upwards.
Alternative scenario: from the level of 1.1305 (close of yesterday's daily candle), the price may move up to 1.1328, the 23.6% retracement level (blue dotted line). When testing this level, the price may start to move down to 1.1280, the lower fractal (blue dotted line), and most likely, after reaching this level, the price will go up.
