Trend analysis (Fig. 1).
On Wednesday, the price is expected to extend its upward movement from the closing level of the previous daily candlestick (1.3425) to the 23.6% retracement level of 1.3466 (yellow dotted line). The upward trend is likely to continue in case the pair tests this mark. If so, the target is seen at the 38.2% retracement level of 1.3537 (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - uptrend
- Fibonacci analysis - uptrend
- volume analysis - uptrend
- candlestick analysis - uptrend
- trend analysis - uptrend
- weekly analysis - uptrend
- Bollinger bands analysis - uptrend
Conclusion:
Today, the price is expected to extend its upward movement from the closing level of the previous daily candlestick (1.3425) to the 23.6% retracement level of 1.3466 (yellow dotted line). The upward trend is likely to continue in case the pair tests this mark. If so, the target is seen at the 38.2% retracement level of 1.3537 (yellow dotted line).
Alternatively, the price may go up to the 23.6% retracement level of 1.3466 (yellow dotted line) from the closing level of the previous daily candlestick (1.3425). After a test of the retracement level, the quote may go down to the lower fractal (1.3402) (yellow dotted line). If so, the uptrend will continue.