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Trend analysis (Figure 1).
Today, from the level of 1.2076 (the closing of yesterday's daily candle), the market will try to make an upward movement with the target of 1.2177 which is the resistance level (blue bold line). After testing this level, the market can 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:
General Conclusion:
Today, from the level of 1.2076 (the closing of yesterday's daily candle), the price will try to make an upward movement with the target of 1.2177 which is the resistance level (blue bold line). After testing this level, the price can continue to work up with the target of 1.2234 which is the historical resistance level (blue dotted line).
Alternative scenario: From the level of 1.2076 (the closing of yesterday's daily candle), the price will try to make an upward movement with the target of 1.2102 which is a pullback level of 76.4% (yellow dotted line). After testing this level, the price can make a downward movement with a target of 1.1975 which is a pullback level of 50% (red dotted line).
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