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Trend analysis (Fig. 1).
On Wednesday, from the level of 1.1874 (closing of yesterday's daily candlestick), the market will try to continue moving upwards with the target of 1.1922 - the 76.4% retracement level (blue dotted line). In case of testing this level, it is likely to continue moving upwards with the target of 1.1947 - the 85.4% retracement level (blue dashed line).
Figure 1 (Daily Chart).
Comprehensive analysis:
General conclusion:
Today, the price from the level of 1.1874 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.1922 - the 76.4% retracement level (blue dashed line). In case of testing this level, it is likely to continue moving upwards with the target of 1.1947 - the 85.4% retracement level (blue dashed line).
Alternative scenario: from the level of 1.1874 (closing of yesterday's daily candlestick), the pair will try to start moving downward with the target of 1.1811, the historical support level (blue dotted line). When testing this level, it is likely to continue moving upwards with the target of 1.1846, the 50.0% retracement level (blue dashed line).
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