Trend analysis (Fig. 1).
The market may move up on Monday from the level of 1.1321 (close of Friday's daily candle) to the target level of 1.1358, the 38.2% retracement level (blue dotted line). When testing this level, the price may continue to move upward to the target level of 1.1384, the historical resistance level (blue dotted line). Upon reaching this level, the upward movement may continue to the target level of 1.1406, the 61.8% 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 from the level of 1.1321 (close of Friday's daily candle) to the target level of 1.1358, the 38.2% retracement level (blue dotted line). When testing this level, the price may continue to move upward to the target level of 1.1384, the historical resistance level (blue dotted line). Upon reaching this level, the upward movement may continue to the target level of 1.1406, the 61.8% retracement level (blue dotted line).
Alternative scenario: from the level of 1.1321 (close of Friday's daily candle), the price may start moving up to the target level of 1.1358, the 38.2% retracement level (blue dotted line). When testing this level, the price may start moving down to the target level of 1.1335, the support line (thick blue line).
