Trend Analysis (Fig. 1).
On Monday, from the level of 1.1685 (the close of Friday's daily candle), the market may continue upward movement with the target at 1.1742 – the upper fractal (blue dotted line). Upon reaching this level, a downward move is possible with the target at 1.1731 – retracement level of 85.4% (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive Analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger Bands – up;
- Weekly chart – up.
Overall conclusion: upward trend.
Alternative scenario: from the level of 1.1685 (the close of Friday's daily candle), the price may continue upward movement with the target at 1.1731 – retracement level of 85.4% (yellow dotted line). Upon reaching this level, a pullback downward is possible with the target at 1.1708 – upper fractal (yellow dotted line).
