Trend analysis (Fig. 1).
On Thursday, the price may start declining from 1.3176 (yesterday's daily candlestick close) with the target of 1.3147, pullback level of 38.2% (red dotted line). If this level is tested, the pair will move upwards, targeting the retracement level of 23.6%, 1.3213 (blue dotted line). After reaching this level, the pair will attempt to continue rising to 1.3295, a pullback level of 38.2% (blue dotted line).
Fig. 1 (daily chart).
Complex analysis:
- indicator analysis - upwards;
- Fibonacci levels - upwards;
- volumes - upwards;
- candlestick analysis - upwards;
- trend analysis - upwards;
- Bollinger bands - upwards;
- weekly chart - upwards.
General conclusion:
Today, the price may start declining from 1.3176 (yesterday's daily candlestick close) with the target of 1.3147, pullback level of 38.2% (red dotted line). If this level is tested, the pair will move upwards, aiming to reach the retracement level of 23.6%, 1.3213 (blue dotted line). After reaching this level, the pair will try to continue rising to 1.3295, a pullback level of 38.2% (blue dotted line).
Another possible scenario: the pair may start declining from 1.3176 (yesterday's daily candlestick close) with the target of 1.3122, pullback level of 61.8% (red dotted line). If this level is tested, the pair will move upwards, targeting the retracement level of 23.6% at 1.3213 (blue dotted line). After reaching this level, the pair will attempt to continue rising to 1.3295, a pullback level of 38.2% (blue dotted line).
