Trend analysis (Fig. 1).
The market may move up from the level of 1.0877 (close of yesterday's daily candle) to 1.0902, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0932, the 23.6% 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 - up;
- Weekly chart - up.
General conclusion:
Today, the price may move up from the level of 1.0877 (close of yesterday's daily candle) to 1.0902, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0932, the 23.6% retracement level (red dotted line).
Alternative scenario: from the level of 1.0877 (close of yesterday's daily candle), the price may move upward to 1.0902, the 14.6% retracement level (red dotted line). After testing this level, the price may move down with the target at 1.0812, the support level (thick blue line). Upon testing this level, an upward movement is possible.
