Trend analysis (Fig. 1).
The market may move upward from the level of 1.2344 (closing of Friday's daily candle) with the target of 1.2394, the 23.6% pullback level (red dotted line). Upon reaching this level, the price may continue to rise with the target of 1.2448, the 38.2% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.2344 (closing of Friday's daily candle) with the target of 1.2394, the 23.6% pullback level (red dotted line). Upon reaching this level, the price may continue to rise with the target of 1.2448, the 38.2% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.2344 (closing of Friday's daily candle) with the target of 1.2394, the 23.6% pullback level (red dotted line). When this level is reached, the price may move downward with the target of 1.2361, the 14.6% pullback level (red dotted line).
