Trend Analysis (Fig. 1).
On Thursday, the market from the level of 1.3473 (yesterday's daily close) may continue moving upward toward the target of 1.3528 – the 50% retracement level (red dashed line). From this level, the price may roll back downward toward the target of 1.3401 – the 38.2% retracement level (yellow dashed 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.
General conclusion: upward trend.
Alternative scenario: from the level of 1.3473 (yesterday's daily close), the price may continue moving upward toward the target of 1.3543 – a historical resistance level (blue dashed line). From this level, the price may roll back downward toward the target of 1.3401 – the 38.2% retracement level (yellow dashed line).
