On Monday, the pair continued to move upward, testing the historic resistance level of 1.1174 (blue dashed line). Today, strong calendar news for the euro is expected at 10:00 UTC. The price may continue to move up.
Trend analysis (Fig. 1).
The market may continue to move up today with the target at the upper fractal 1.1186 (blue dashed line). When the upper fractal is reached, the continuation of work upwards is with the target of 1.1239 (red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
A continuation of the upward movement is expected today with the target of 1.1186 located at the upper fractal (blue dashed line).
An unlikely scenario is from the historical resistance level of 1.1174 (blue dashed line), work down with the target of 1.1090, the pullback level of 23.6% (blue dashed line). Upon reaching this level, the next lower target is 1.1031, the retracement level of 38.2% (blue dashed line).
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