On Tuesday, the pair moved down, failed to reach the resistance line – 1.2037 (red bold line), and after that, the price went up. On Wednesday, the pair will try to continue moving up. Strong calendar news is expected at 15:00 London time, 15:30 London time, and 19:00 London time (dollar).

Trend analysis (Fig. 1).

On Wednesday, the price may continue to move up with the first target of 1.2192 – 21 average EMA (black thin line).

Fig. 1 (daily chart).

Complex analysis:

- Indicator analysis – down;

- Fibonacci levels – up;

- Volumes – up;

- Candle analysis – up;

- Trend analysis – down;

- Bollinger bands – down;

- Weekly schedule - up.

General conclusion:

On Wednesday, the price may continue to move up with the first target of 1.2192 – 21 average EMA (black thin line).

Unlikely scenario: a downward movement with target of 1.2064 – lower fractal.