Trend analysis (Fig. 1).
The market may move up from the level of 1.3256 (close of yesterday's daily candle) to 1.3319, the 50.0% retracement level (blue dotted line). In case of testing this level, the price may continue to move upward to the target level of 1.3352, the historical resistance level (blue dotted line). From here, the price may move down.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Weekly chart - up;
- Bollinger Bands – up.
General conclusion:
The price may move up from the level of 1.3256 (close of yesterday's daily candle) to 1.3319, the 50.0% retracement level (blue dotted line). In case of testing this level, the price may continue to move upward to the target level of 1.3352, the historical resistance level (blue dotted line). From here, the price may move down.
Alternative scenario: from the level of 1.3256 (close of yesterday's daily candle), the price may move upward to 1.3319, the 50.0% retracement level (blue dotted line). In the case of testing this level, the price may move down to the target level of 1.3273, the 14.6% retracement level (yellow dotted line).
