Trend analysis (Fig. 1).
The market may move up from the level of 1.3111 (close of yesterday's daily candle) to the target at 1.3173, the 50.0% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target of 1.3201, the 61.8% 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 down from the level of 1.3111 (close of yesterday's daily candle) to the target at 1.3173, the 50.0% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target at 1.3201, the 61.8% retracement level (red dotted line).
Alternative scenario: from the level of 1.3111 (close of yesterday's daily candle), the price may move up with the target at 1.3144, the 38.2% retracement level (red dotted line). In case of testing this level, the price may move down with the target at 1.3050, the lower fractal (red dotted line). Upon reaching this level, upward movement is possible with the target at 1.3085, the 14.6% retracement level (red dotted line).
