Trend analysis (Fig. 1).
The market may move up from the level of 1.0874 (close of Friday's daily candle) to the target at 1.0918, 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 1.0969, the 38.2% retracement level (red dotted line). After testing this level, a pullback downward is possible.
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 1.0874 (close of Friday's daily candle) to the target at 1.0918, the 23.6% retracement level (red dotted line). In case of testing this level, the price may continue to move up with the target at 1.0969, the 38.2% retracement level (red dotted line). After testing this level, a pullback downward is possible.
Alternative scenario: from the level of 1.0874 (close of Friday's daily candle), the price may start moving down with the target at 1.0812, the resistance level (thick blue line). After testing this level, the price may move upward with the target of 1.0886, the 14.6% retracement level (red dotted line).
