Trend analysis (Fig. 1).
Today, the market will try to continue moving up from the level of 1.2127 (the close of yesterday's daily candle) to reach the resistance level of 1.2176 (the blue bold line). Upon reaching this level, continue to work up with the target of 1.2234 which is the historical resistance level (blue dotted line).
Figure 1 (daily chart).
Comprehensive Analysis:
- Indicator Analysis – up
- Fibonacci Levels – up
- Volumes – up
- Candle Analysis – up
- Trend Analysis – up
- Bollinger Bands – up
- Weekly chart – up
General Conclusion:
Today, the price may continue to move up to reach the resistance level of 1.2176 (blue bold line). Upon reaching this level, continue to work up with the target of 1.2234 which is the historical resistance level (blue dotted line).
Alternative scenario: After moving up and reaching the resistance level of 1.2176 (blue bold line), the market will work down with the target of 1.2063 which is a pullback level of 38.2% (red dotted line).
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