Trend analysis (Fig. 1).
On Monday, from the level of 1.1718 (Friday's daily candle close), the market may begin moving downward with a target of 1.1691 – the 14.6% pullback level (blue dotted line). Upon reaching this level, an upward move is possible with a target of 1.1697 – the 76.4% pullback level (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: Uptrend.
Alternative scenario: From the level of 1.1718 (Friday's daily candle close), the price may start moving downward with a target of 1.1659 – the 23.6% pullback level (blue dotted line). Upon reaching this level, a pullback upward is possible with a target of 1.1680 – the 14.6% pullback level (blue dotted line).
