On Friday, the following strong calendar news comes out: 13.15 London time. UR, speech by the head of the ECB Draghi.
Trend analysis (Figure 1).
On Thursday, the price made a backward movement going upward, a considerable role to this was added by the news. On Friday, the upward movement may continue. The first target of 1.1996 is the slope level of 23.6%. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - down;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - up;
- Weekly schedule - down.
General conclusion.
On Friday, the upward movement may continue with the first target of 1.1996 and the recession rate of 23.6%.
The material has been provided by InstaForex Company - www.instaforex.com