Trend analysis (Fig. 1).
The market may move up from the level of 1.0981 (close of yesterday's daily candle) to 1.1064, the 38.2% retracement level (blue dotted line). In case of testing this level, the price may continue to move up to 1.1145, the 50.2% retracement level (blue dotted line). From here, downward movement is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
The price may move up from 1.0981 (close of yesterday's daily candle) to 1.1064, the 38.2% retracement level (blue dotted line). In case of testing this level, the price may continue to move up to 1.1145, the 50.2% retracement level (blue dotted line). From here, downward movement is possible.
Alternative scenario: from the level of 1.0981 (close of yesterday's daily candle), the price may move up to the resistance level of 1.1014 (red thick line). In case of testing this level, the price may move down to 1.0932, the 61.8% retracement level (yellow dotted line). From this level, upward movement is possible.
