Trend analysis (Figure 1).
On Friday the market will try to move up from 1.3080 (yesterday's daily candlestick close) with the target 1.3202, which is a historical resistance level (blue dotted line). After testing this level, the price may continue to move upwards with the target 1.3295, which is a pullback level of 38.2% (blue dotted line).
Figure 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.
Conclusion:
Today the price from 1.3080 (yesterday's daily candlestick close) will try to start moving upwards with the target 1.3202, which is a historical resistance level (blue dotted line). After testing this level, the price may continue to move upwards with a target of 1.3295, a pullback level of 38.2% (blue dotted line).
Unlikely scenario: from the level of 1.3080 (yesterday's daily candlestick close) the pair will try to continue downward movement with the target 1.3010, target level of 161.8% (red dotted line). After testing this level, the price may start moving upwards with the target 1.3162, a pullback level of 14.6% (blue dotted line).
