Trend Analysis (Fig. 1).
On Wednesday, the market may begin moving upward from the 1.3141 level (yesterday's daily candle close), targeting 1.3194 — the 21-period EMA (thin black line). When testing this line, the price may pull back downward toward 1.3178 — the 23.6% retracement level (blue dashed line).
Figure 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: an upward trend.
Alternative scenario: On Wednesday, the market may begin moving upward from the 1.3141 level (yesterday's daily candle close), targeting 1.3232 — a historical resistance level (blue dashed line). When testing this line, the price may pull back downward toward 1.3194 — the 21-period EMA (thin black line).
