Trend Analysis (Fig. 1)
On Wednesday, from the 1.1574 level (yesterday's daily candle close), the market may continue moving upward toward the target at 1.1611 — the 76.4% retracement level (red dashed line). If this level is tested, the price may continue rising toward the 1.1640 target — the 61.8% retracement level (yellow dashed line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
- Indicator analysis – upward
- Fibonacci levels – upward
- Volume – upward
- Candlestick analysis – downward
- Trend analysis – upward
- Bollinger Bands – upward
- Weekly chart – upward
Overall conclusion: upward trend.
Alternative scenario: From the 1.1574 level (yesterday's daily candle close), the price may continue moving upward toward the 76.4% retracement level at 1.1611 (red dashed line). Upon testing this level, the price may pull back downward to 1.1594 — the 50% retracement level (yellow dashed line).
