On Thursday, there is no expected strong calendar news and the market will work on technical analysis.
Trend analysis (Figure 1).
On Wednesday, the price continued to move up. On the third attempt, the recoil level of 23.6% 1.1758 (blue dotted line) was defeated. The market moved upward to test, but could not overcome the 21-EMA. Therefore, on Thursday, there could be a second attempt to work upward. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - down;
- candle analysis - down;
- trend analysis - up;
- Bollinger lines - down;
- Weekly schedule - up.
General conclusion.
On Thursday, the market will move up with the first goal 1.1830 on the upper fractal (red dotted line).
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