Trend analysis (Fig. 1).
The price may continue to move up today with the first goal of a pullback level of 50.0% which is equivalent to 1.1164 presented in a blue dotted line. Upon reaching this line, the next target will be a pullback level of 61.8% which is at 1.1182 presented in a blue dotted line.
Fig. 1 (daily chart).
Complex analysis:
- Indicator analysis-up;
- Fibonacci levels-up;
- Volumes-up;
- Candle analysis-up;
- Trend analysis-up;
- Bollinger lines-up;
- Weekly chart - the up.
General conclusion:
An upward trend is possible today.
An unlikely scenario is from the pullback level of 38.2% which is equivalent to 1.1146 presented in a blue dotted line, the price goes down to the support line 1.1091 presented in a white bold line.
The material has been provided by InstaForex Company - www.instaforex.com