On Friday, the market rallied up, and economic news played a significant role in this. The pair, while moving up, tested the pullback level of 61.8% - 1.1134 (blue dotted line) and closed below. On Monday, strong calendar news come out at 7.55 (euro) and 14.00 (dollar) Universal time.
Trend analysis (Fig. 1).
On Monday, the price may continue to move up with the first target of 1.1191 - the pullback level of 76.4% (blue dashed line), together with the resistance line. It will be difficult for the price to overcome this area for the first time.
Fig. 1 (daily schedule).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- weekly schedule - up.
General conclusion:
On Monday, the price may continue to move up with the first target of 1.1191 - the pullback level of 76.4% (blue dashed line), together with the resistance line. After testing this level, a rollback is possible.
The material has been provided by InstaForex Company - www.instaforex.com