Trend analysis (Fig. 1).
The market may move up from the level of 1.3180 (close of yesterday's daily candle) to the target level of 1.3244, the 38.2% retracement level (blue dotted line). After testing this level, the price may continue to move up to the target level of 1.3320, the 50.0% retracement level (blue dotted line).
Fig. 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.
General conclusion :
The price may move up from the level of 1.3180 (close of yesterday's daily candle) to the target level of 1.3244, the 38.2% retracement level (blue dotted line). After testing this level, the price may continue to move up to the target level of 1.3320, the 50.0% retracement level (blue dotted line). From this level, the price may move down.
Unlikely scenario: from the level of 1.3180 (close of yesterday's daily candle), the price may move up to the target level of 1.3223, the 21-period EMA (black thin line). After testing this level, the price may move downward to the target level of 1.3148, the 50% retracement level (yellow dotted line). After testing this level, the price may move up.
