Trend analysis (Fig. 1).

Today, the market from the level of 1.3187 (closing of Friday’s daily candlestick) may continue to move upward with the goal of 1.3231 – a pullback level of 61.8% (blue dotted line). When testing this level, continue working upward with the goal of 1.3282, which is a pullback level of 85.4% (blue dotted line).

analytics5fb214893fa25.jpg

Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis – up
  • Fibonacci levels – up
  • Volumes – up
  • Candlestick analysis – down
  • Trend analysis – up
  • Bollinger bands – up
  • Weekly chart – up

General conclusion:

The price will try to continue moving upward today with the target of 1.3282 – the resistance line (white bold line). When testing this line, continue working up with the target of 1.3310-the upper fractal (red dotted line).

Alternative scenario: from the level of 1.3187 (closing of the Friday’s daily candlestick), the price may start moving upward with the goal of 1.3231 – a pullback level of 61.8% (blue dotted line). When testing this level, work downward with a target of 1.3159, which is a pullback level of 23.6% (red dotted line).

The material has been provided by InstaForex Company – www.instaforex.com

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