Trend analysis (Fig. 1).
Today, from the level of 1.0786 (closing of yesterday's candle) the price will try to continue to move up with the target of 1.0965, a retracement level of 38.2% (red dashed line). If this level is reached, further work down with the target of 1.0889, a retracement level of 23.6.% (Blue dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
Today, from the level of 1.0786 (closing of yesterday's candle) the price will try to continue to move up with the target of 1.0965, a retracement level of 38.2% (red dashed line). If this level is reached, further work down with the target of 1.0889, a retracement level of 23.6.% (Blue dashed line).
An unlikely scenario: from a pullback level of 23.6% - 1.0840 (red dashed line), work down, with the target at the lower fractal 1.0637 (red dashed line).
The material has been provided by InstaForex Company - www.instaforex.com