Trend analysis (Fig. 1).
The market may move upward from the level of 1.0905 (closing of yesterday's daily candle) to test 1.0986, the 76.4% pullback level (red dotted line). Upon testing this level, a downward movement is possible with the target of 1.0958, the 23.6% pullback level (yellow dotted line). In case of testing this level, the price may move up.
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 1.0905 (closing of yesterday's daily candle) to test 1.0986, the 76.4% pullback level (red dotted line). Upon testing this level, a downward movement is possible with the target of 1.0958, the 23.6% pullback level (yellow dotted line). In case of testing this level, the price may move up.
Alternatively, the price may move upward from the level of 1.0905 (closing of yesterday's daily candle) to test 1.0958, the 23.6% pullback level (yellow dotted line). Upon testing this level, a downward movement is possible with the target of 1.0930, the historical support level (blue dotted line).
