Trend Analysis (Fig. 1).
On Monday, the market from the 1.3151 level (Friday's daily candle close) may begin moving upward toward the target of 1.3223 – a historical resistance level (light blue dashed line). Upon testing this level, the price may begin moving downward toward the target of 1.3185 – the 5-period EMA (thin red 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 1.3151 level (Friday's daily candle close), the price may begin moving upward toward the target of 1.3219 – the 8-period EMA (thin blue line). Upon reaching this line, a downward movement toward 1.3185 – the 5-period EMA (thin red line) – is possible.
