Trend analysis (Fig. 1).
The market may move upward from the level of 1.0747 (closing of Friday's daily candle) to 1.0810, the 38.2% pullback level (red dotted line). When testing this level, a downward movement is possible with the target of 1.0769, the 21-day EMA (thin black line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.0747 (closing of Friday's daily candle) to 1.0810, the 38.2% pullback level (red dotted line). When testing this level, a downward movement is possible with the target of 1.0769, the 21-day EMA (thin black line).
Alternatively, the price may move upward from the level of 1.0747 (closing of Friday's daily candle) to 1.0810, the 38.2% pullback level (red dotted line). When testing this level, the price may continue to move upwards with the target of 1.0865, the 50.0% pullback level (red dotted line).
