Trend analysis (Fig. 1).
The market may move upward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2460, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with the target at 1.2496, the upper fractal (yellow dotted line).
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 - up.
General conclusion:
Today, the price may move upward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2460, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with the target at 1.2496, the upper fractal (yellow dotted line).
Alternatively, the price may move upward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2460, the historical resistance level (blue dotted line). In case of testing this level, the price may move downward with the target of 1.2420, the 14.6% pullback level (yellow dotted line).
