Trend Analysis (Fig. 1).
On Wednesday, from the level of 1.1866 (yesterday's daily close), the market may start moving downward toward 1.1828 — a historical support level (blue dashed line). Upon testing this level, the price may continue moving upward toward 1.1881 — the resistance line (thick blue line).
Fig. 1 (daily chart).
Comprehensive Analysis:
- Indicator analysis – upward;
- Fibonacci levels – upward;
- Volumes – upward;
- Candlestick analysis – downward;
- Trend analysis – upward;
- Bollinger Bands – upward;
- Weekly chart – upward.
General conclusion: upward trend.
Alternative scenario: From the level of 1.1866 (yesterday's daily close), the price may continue moving upward toward 1.1907 — the 208% target level (red dashed line). Upon testing this level, the price may roll back downward toward 1.1881 — the 185.4% target level (red dashed line).
