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Trend analysis (Fig. 1).
Today, the market from the level of 1.2156 (closing of yesterday's daily candle) will try to continue moving upwards with the target of 1.2234 - the historical resistance level (blue dotted line). After testing this level, the price can continue to work upward with the target of 1.2274 - the 85.4% retracement level (yellow dashed line).
Figure: 1 (Daily Chart).
Comprehensive analysis:
General conclusion:
Today, the price from the level of 1.2156 (closing of yesterday's daily candle) will try to move upwards with the target of 1.2234 - the historical resistance level (blue dotted line). After testing this level, the price can continue to work upward with the target of 1.2274 - the 85.4% retracement level (yellow dashed line).
Unlikely scenario: the price from the level of 1.2156 (closing of yesterday's daily candle) will try to move upwards with the target of 1.2172 - the resistance level (blue bold line). After testing this level, the price can continue to work downward with the target of 1.2063 - the 38.2% retracement level (red dotted line).
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