Trend analysis (fig. 1).
Today, the pair may rise to the resistance level of 1.2599 (blue bold line) from 1.2575 (the closing of Friday's daily candlestick). If it reaches this level, the price is likely to decline to the target level of 1.2547, the Fibonacci retracement level of 14.6% (blue dotted line).
Fig. 1 (daily chart).
Complex analysis:
- indicator analysis – up;
- Fibonacci retracement levels – up;
- trading volumes – up;
- candlestick analysis – down;
- trend analysis – down;
- Bollinger lines – up;
- weekly chart - up.
Conclusion:
Today, the pair may rise to the resistance level of 1.2599 (blue bold line) from 1.2575 (the closing of Friday's daily candlestick). After reaching this level, the price is likely to decline to the target level of 1.2547, the Fibonacci retracement level of 14.6% (blue dotted line).
Alternatively, the pair could advance to the resistance level of 1.2599 (blue bold line) from 1.2575 (closing of Friday's daily candlestick). After hitting this level, the price is projected to maintain its upward movement to the target level of 1.2624, the Fibonacci retracement level of 85.4% (red dotted line).
