Trend Analysis (Fig. 1)
On Wednesday, from the 1.3017 level (yesterday's daily close), the market may begin moving upward toward 1.3057, the 185.4% target level (red dotted line). Upon testing this level, the price may then pull back downward toward 1.3043, the historical support level (blue dotted line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
- Indicator analysis – upward
- Fibonacci levels – upward
- Volume analysis – downward
- Candlestick analysis – upward
- Trend analysis – upward
- Bollinger Bands – upward
- Weekly chart – upward
Overall conclusion: upward trend.
Alternative scenario: On Wednesday, from the 1.3017 level (yesterday's daily close), the market may begin moving upward toward 1.3043, the historical support level (blue dotted line). Upon testing this level, the price may then pull back downward toward 1.3006, the 208% target level (red dotted line).
