Trend analysis (Fig. 1).
On Thursday, the price will attempt to rise from 1.0165 (closing of yesterday's daily candlestick) and test the 38.2% retracement level of 1.0203 (red dotted line). Should the quote reach the mark, the upward target will stand at the 50% retracement level of 1.0281 (red dotted line). If the pair approaches it, a pullback may occur.
Fig. 1 (daily chart).
Complex analysis:
- indicator analysis - up
- Fibonacci levels - up
- volumes - up
- candlestick analysis - up
- trend analysis - up
- Bollinger bands - down
- weekly chart - up
Final thoughts:
On Thursday, the price will attempt to rise from 1.0165 (closing of yesterday's daily candlestick) and test the 38.2% retracement level of 1.0203 (red dotted line). Should the quote reach the mark, the upward target will stand at the 50% retracement level of 1.0281 (red dotted line). If the pair approaches it, a pullback may occur.
Alternative scenario: the price will attempt to rise from 1.0165 (closing of yesterday's daily candlestick) and test 1.0191 support (white bold line). Should the quote reach the line, the target will stand at the 50% retracement level of 1.0119 (blue dotted line). If the pair approaches it, a rebound may occur.
