Trend analysis (Fig. 1).
The market may move up from the level of 1.3085 (close of yesterday's daily candle) to the target of 1.3154, the 38.2% retracement level (red dotted line). In case of testing this level, the price may continue to move up to the target of 1.3181, the 50.0% retracement level (red dotted line).
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 1.3085 (close of yesterday's daily candle) to the target at 1.3154, the 38.2% retracement level (red dotted line). In case of testing this level, the price may continue to move up to the target of 1.3181, the 50.0% retracement level (red dotted line).
Alternative scenario: from the level of 1.3085 (close of yesterday's daily candle), the price may move upward to the target at 1.3111, the resistance (thick red line). In case of testing this level, the price may move downward to the target of 1.3042, the 85.4% retracement (yellow dotted line). In case of testing this level, the price may move up to the target of 1.3099, the 14.6% retracement level (red dotted line).
