Trend analysis (Fig. 1).
The market may move up on Tuesday from the level of 1.1217 (close of yesterday's daily candle) to the target level of 1.1250, the 38.2% retracement level (blue dotted line). When testing this level, continued upward movement is possible to 1.1295, the 50.0% 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 1.1217 (close of yesterday's daily candle) to the target level of 1.1250, the 38.2% retracement level (blue dotted line). When testing this level, continued upward movement is possible to 1.1295, the 50.0% retracement level (blue dotted line).
Alternative scenario: from the level of 1.1217 (close of yesterday's daily candle), the price may move down to 1.1174, the 85.4% retracement level (red dotted line). When testing this level, further downward movement is possible to 1.1106, the lower fractal (daily candle from 02/24/2022). When testing this level, the price may start to move up to 1.1309, the 14.6% retracement level (blue dotted line).
