Trend analysis (Figure 1).
On Friday the market from 1.0983 (yesterday's daily candlestick close) may continue to move upwards with the target to reach the pullback level of 38.2%, 1.1064 (blue dotted line). After testing this line, the continuation of the upper movement with the target of 1.1145 will lead to a pullback level of 50.0% (blue dotted line).
Figure 1 (daily chart).
Complex analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger bands - up;
- weekly chart - up.
Conclusion:
Today the price from 1.0983 (yesterday's daily candlestick close) may continue to move upwards with the target to reach the pullback level of 38.2%, 1.1064 (blue dotted line). After testing this line, the continuation of the upper movement with the target of 1.1145 will lead to the pullback level of 50.0% (blue dotted line).
Alternate scenario: the price from 1.0983 (yesterday's daily candlestick close) could continue to move downwards with the aim of reaching the pullback level of 50.0%, 1.0950 (yellow dashed line). After testing this level, a move upwards is possible.
