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Trend analysis (Fig. 1).
On Thursday, the market is expected to extend the upward trend from 1.1869 (the closing level of yesterday's daily candlestick) to the target set at 1.1922, the 76.4% retracement level (the blue dotted line). If the price tests this level, it may go up to the historic resistance level of 1.1954 (the blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - upward trend;
- Fibonacci retracement analysis - upward trend;
- volume analysis - upward trend;
- candlestick analysis - upward trend;
- trend analysis - upward trend;
- Bollinger bands analysis - upward trend;
- weekly chart analysis - upward trend.
Conclusion:
On Thursday, the market is expected to extend the upward trend from 1.1869 (the closing level of yesterday's daily candlestick) to the target set at 1.1922, the 76.4% retracement level (the blue dotted line). If the price tests this level, it may go up to the historic resistance level of 1.1954 (the blue dotted line).
Alternatively, the price may go down from 1.1869 (the closing level of yesterday's daily candlestick) to the target set at 1.1812, the historic resistance level (the blue dotted line).
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