Trend analysis (pic. 1).
On Wednesday, from the level of 1.1529 (the closing of yesterday's daily candlestick), the pair may start moving up to the target level of 1.1584, the retreatment level of 14.6% (yellow dotted line). After testing this level, the price may reach 1.1618, the retreatment level of 23.6% (yellow dotted line). The future trajectory of the pair will largely depend on the reports that will be released at 21:00 MSK.
Pic. 1 (daily chart).
Complex analysis:
-indicator analysis– up;
- Fibonacci levels - up;
- trading volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger bands - down;
- weekly chart - up.
Conclusion:
Today, from the level of 1.1529 (the closing of yesterday's daily candlestick) may rise to the target level of 1.1584, the retreatment level of 14.6% (yellow dotted line). When testing this level, the price may reach the target level of 1.1618, the retreatment level of 23.6% (yellow dotted line).
Alternatively, from the level of 1.1529 (the closing of yesterday's daily candlestick), the pair may grow to the target level of 1.1584, the retreatment level of 14.6% (yellow dotted line). When testing this level, the price may decline to the level of 1.1512, the target level of 161.8% (red dotted line).