Trend analysis (Fig. 1).
The market may begin to move up today with the target at 1.0885, the retracement level of 14.6% (red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger Lines - down;
- Weekly schedule - up.
General conclusion:
An upward movement is expected today with the target at 1.0885, the retracement level of 14.6% (red dashed line).
An unlikely but possible scenario is from the resistance line 1.0827 (blue bold line), continued work down with the target 1.0744 locates at the lower border of the Bollinger line indicator (blue dashed line).
The material has been provided by InstaForex Company - www.instaforex.com