Trend Analysis (Fig. 1).On Tuesday, the market, starting from the level of 1.1644 (yesterday's daily candle close), may continue moving upward toward the target of 1.1686 — the 38.2% retracement level (yellow dashed line). Upon testing this level, the price may pull back downward to test the support line at 1.1668 (thick red line).
Fig. 1 (Daily Chart).
Comprehensive Analysis:
- Indicator analysis – upward;
- Volume – upward;
- Candlestick analysis – upward;
- Trend analysis – upward;
- Bollinger Bands – upward;
- Weekly chart – upward.
Overall conclusion: Upward trend.
Alternative scenario:From the level of 1.1644 (yesterday's daily candle close), the price may continue moving upward toward 1.1668 — the support line (thick red line). Upon testing this line, the price may pull back downward toward 1.1645 — the upper fractal (red dashed line).
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