Wednesday's price, having fought off from 1.2481 - the support line (the red bold line),started to move upwards and reached a rolling level of 23.6% - 1.2672 (the yellow dotted line). Today, strong calendar news is released at 15.45 and 16.30 Moscow time (although the European news will influence the price indirectly).
Trend analysis (Fig. 1).
On Thursday, before the news, a downward side channel is possible, then an upward movement of the first target of 1.2672 is the upper fractal.
Fig. 1 (daily schedule).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - up;
- volumes - down;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- weekly schedule - up.
General conclusion:
On Thursday, before the news, a downward side channel is possible, then an upward movement with the first target of 1.2672 is the upper fractal.
The material has been provided by InstaForex Company - www.instaforex.com