Trend analysis (Fig. 1).
The market may move up from the level of 1.2996 (close of yesterday's daily candle) to 1.3055, the 23.6% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target of 1.3102, the 38.2% retracement level (red dotted line). From this level, upward movement is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Weekly chart – up;
- Bollinger bands – down.
General conclusion:
Today, the price may move up from the level of 1.2996 (close of yesterday's daily candle) to 1.3055, the 23.6% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target of 1.3102, the 38.2% retracement level (red dotted line). From this level, upward movement is possible.
Unlikely scenario: from the level of 1.2996 (close of yesterday's daily candle), the price may move downward to 1.2960, the lower border of the Bollinger line indicator (black dotted line). In case of testing this level, the price may move upward with a target of 1.3022, the 14.6% retracement level (red dotted line).
