Trend analysis

The price from the level of 1.2179 (closing of the last weekly candle) may continue rising this week, in order to test the level of 1.2254 – the pullback level of 85.4% (blue dotted line). After testing this level, the upward movement may resume to the target of 1.2348 – the upper fractal (blue dotted line). The next upward target is the historical resistance level pf 1.2462 (blue dotted line).

Figure 1 (weekly chart)

Comprehensive analysis:

• Indicator analysis - up
• Fibonacci levels - up
• Volumes - up
• Candlestick analysis - up
• Trend analysis - up
• Bollinger lines - up
• Monthly chart - up

An upward movement can be concluded based on comprehensive analysis.

The overall result of the candlestick calculation based on the weekly chart: the price will most likely move in an upward trend, both without a lower shadow (Monday - up) and without an upper shadow (Friday - up) in the weekly white candlestick.

The first upward target when rising is set at 1.2254 – the pullback level of 85.4% (blue dotted line). Once this level is tested, growth may extend to the target of 1.2348 – the upper fractal (blue dotted line). The next upward target is the historical resistance level pf 1.2462 (blue dotted line).

Alternatively, the price from the level of 1.2179 (closing of the last weekly candle) may start rising in order to test the level of 1.2254 – the pullback level of 85.4% (blue dotted line). After reaching it, it may decline to the target of 1.2164 – the pullback level of 14.6% (yellow dotted line). The upward movement will continue until this target is tested.