On Friday, the market in both currencies was moving up.
After a strong trend, the GBP / USD pair has smoothly moved down to the side channel, the first sign of pullback, and as a result, the price went up after retesting the pullback level of 76.4% - 1.2662 on Friday.
The EUR / USD pair continued its upward movement, breaking through the pullback level of 61.8% - 1.1204 (blue dotted line), and closed higher. On Monday, the market will be narrow in the UK and the USA.
Trend analysis (Fig. 1).
Today, the price will continue to move up with the first goal 1.1230 - the resistance line (white thin line).
Fig. 2 (daily schedule).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - up;
- weekly schedule - up.
General conclusion:
On Monday, we are waiting for the continuation of the upward movement. The first upper target of 1.2740 is the pullback level of 23.6% (yellow dotted line). The second upper target 1.2823 is the pullback level of 38.2% (yellow dotted line).
The material has been provided by InstaForex Company - www.instaforex.com