Trend analysis (Fig. 1).
On Thursday, from the 1.3494 level (yesterday's daily close), the market may continue moving upward, targeting 1.3522 – the 85.4% retracement level (red dotted line). From this level, the price may rebound downward, aiming for 1.3482 – the 76.4% retracement level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – upward;
- Fibonacci levels – upward;
- Volumes – upward;
- Candlestick analysis – upward;
- Trend analysis – upward;
- Bollinger Bands – upward;
- Weekly chart – upward.
Overall conclusion: upward trend.
Alternative scenario: From the 1.3494 level (yesterday's daily close), the price may continue moving upward, targeting 1.3522 – the 85.4% retracement level (red dotted line). From this level, the price may rebound downward, aiming for 1.3416 – the 61.8% retracement level (red dotted line).
