Trend analysis (Fig. 1).
The market may move up from the level of 1.3064 (close of yesterday's daily candle) to the target of 1.3104, the 23.6% retracement level (red dotted line). In case of testing this level, the price may move up with the target of 1.3141, the 38.2% retracement level (red dotted line). Upon testing this level, the upward movement will continue.
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:
Today, the price may move up from the level of 1.3064 (close of yesterday's daily candle) to the target of 1.3104, the 23.6% retracement level (red dotted line). In case of testing this level, the price may continue to move up with the target of 1.3141, the 38.2% retracement level (red dotted line). Upon testing this level, the upward movement will continue.
Alternative scenario: from the level of 1.3064 (close of yesterday's daily candle), the price may continue to move up with the target of 1.3104, the 23.6% retracement level (red dotted line). When testing this level, a downward pullback is possible with the target at 1.3044, the lower fractal (red dotted line). Upon testing this level, upward movement is possible.
