Trend analysis (Fig. 1).

On Monday, the market from the level of 1.3733 (closing of last Friday’s daily candle) may continue to move up with the target of 1.3834 – the upper limit of the Bollinger Line indicator (black dotted line). When testing this line, it may continue to work up with the target of 1.3944 – the 85.4% retracement level (yellow dotted line).

analytics6020dcd940a03.jpg

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may start moving up with the target of 1.3834 – the upper limit of the Bollinger Line indicator (black dotted line). When testing this line, it may continue to work up with the target of 1.3944 – the 85.4% retracement level (yellow dotted line).

Unlikely scenario: from the level of 1.3733 (closing of last Friday’s daily candle), the price may start moving down with the target of 1.3581 support line (red bold line). When testing this line, it is possible to move upwards with the target of 1.3757 – the upper fractal (red dotted line).

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

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