Trend analysis (fig. 1).
On Friday, the pair may resume an upward movement from the level of 1.0997 (the closing of yesterday's daily candlestick) to 1.1064, the Fibonacci retracement level of 38.2% (blue dotted line). After testing this level, the price may advance to 1.1145, which is the retracement level of 50% (blue dotted line).
Fig. 1 (daily chart).
Complex analysis:
- indicator analysis – up;
- Fibonacci retracement levels - up;
- trading volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- weekly chart up.
Conclusion:
Today, the pair may resume an upward movement from the level of 1.0997 (the closing of yesterday's daily candlestick) to 1.1064, the Fibonacci retracement level of 38.2% (blue dotted line). After testing this level, the price may advance to 1.1145, which is the retracement level of 50% (blue dotted line).
Alternatively, the price may appreciate to 1.1064, the Fibonacci retracement level of 38.2% (blue dotted line) from the level of 1.0997 (the closing of yesterday's daily candlestick). After testing this level, the pair may decline to 1.0990, which is the support line (blue bold line). After testing this line, the pair is likely to resume an upward movement.
