Trend analysis (Fig. 1).
The market may move upward from the level of 1.2481 (closing of yesterday's daily candle) to test 1.2545, the upper fractal (yellow dotted line). Upon testing this level, a downward movement is possible to 1.2515, the 14.6% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.2481 (closing of yesterday's daily candle) to test 1.2545, the upper fractal (yellow dotted line). Upon testing this level, a downward movement is possible to 1.2515, the 14.6% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2481 (closing of yesterday's daily candle) to test 1.2545, the upper fractal (yellow dotted line). Upon testing this level, the price may continue to move upward with the target at 1.2575, the upper limit of the Bollinger band indicator (black dotted line).
