Trend analysis (Fig. 1).
The market may move up from the level of 1.3109 (close of Friday's daily candle) to the target of 1.3144, the 38.2% retracement level (red dotted line). In case of testing this level, the price may continue to move up with the target of 1.3173, 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 the level of 1.3109 (close of Friday's daily candle) to the target of 1.3144, the 38.2% retracement level (red dotted line). In case of testing this level, the price may continue to move up with the target of 1.3173, the 50.0% retracement level (red dotted line).
Alternative scenario: from the level of 1.3109 (close of Friday's daily candle), the price may continue to move downward with the target of 1.3050, the lower fractal (red dotted line). From this level, the price may move up with the target of 1.3085, the 14.6% retracement level (red dotted line). Upon reaching this level, further upward movement is possible.
