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Trend analysis (Fig. 1).
The market may move up on Tuesday from the level of 1.1327 (closing of yesterday's daily candle) to reach the upper fractal at 1.1360 (daily candle from 12/16/2021). When testing this level, the upward movement may continue to reach the resistance level at 1.1379 (blue bold line), and most likely, after that, the price will go further up.
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
The price may move up from the level of 1.1327 (closing of yesterday's daily candle) to reach the upper fractal at 1.1360 (daily candle from 12/16/2021). When testing this level, the upward movement may continue to reach the resistance level at 1.1379 (blue bold line), and most likely, after that, the price will go further up.
Alternative scenario: from the level of 1.1327 (closing of yesterday's daily candle), the price may start moving downwards to the target level of 1.1291, the 50% retracement level (red dotted line). After testing this level, the price may start to move upward to the target level of 1.1360, the upper fractal (red dotted line).
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