Trend analysis (Fig. 1).
Today, the market may continue to move up from the level of 1.3154 (closing of last Friday's daily candlestick) with the goal of 1.3238 – the upper border of the Bollinger line indicator (purple dotted line). When testing this line, it is possible to continue working up with the goal of 1.3258 – the historical resistance level (blue dotted line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
The price will try to continue moving up today with the goal of 1.3238 – the upper border of the Bollinger line indicator (purple dotted line). When testing this line, it is possible to continue working up with the goal of 1.3258 – the historical resistance level (blue dotted line).
Unlikely scenario: from the level of 1.3154 (closing of last Friday's daily candlestick), the price may start moving down with the goal of 1.3104 – a pullback level of 14.6% (red dotted line).
The material has been provided by InstaForex Company - www.instaforex.com
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