Trend Analysis (Fig. 1)
On Wednesday, the market may begin moving upward from the 1.3146 level (yesterday's daily candle close) toward the target of 1.3232 — a historical resistance level (blue dashed line). When testing this level, the price may pull back downward toward 1.3217 — the 21-day EMA (black thin line).
Fig. 1 (Daily Chart)
Comprehensive Analysis
- Indicator analysis – upward;
- Fibonacci levels – upward;
- Volume – upward;
- Candlestick analysis – upward;
- Trend analysis – upward;
- Bollinger Bands – upward;
- Weekly chart – upward.
General conclusion: upward trend.
Alternative Scenario
On Wednesday, the market may begin moving upward from the 1.3146 level (yesterday's daily candle close) toward the target of 1.3217 — the 21-day EMA (black thin line). When testing this line, the price may pull back downward toward 1.3178 — the 23.6% retracement level (blue dashed line).
