The pair traded downward on Thursday, reaching 1.1757 - the 61.8% retracement level (red dotted line), then closed the daily candle at 1.1764. Today, the market may roll back up. News is expected at 09:00 UTC (euro).

Trend analysis (Fig. 1).

The market may move upward from the level of 1.1764 (closing of yesterday's daily candle) with the target of 1.1787 - the 23.6% retracement level (yellow dashed line). After testing this level, the upward movement may continue with the target of 1.1810 - the 38.2% retracement level (yellow dashed line).

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:

Today, the price may move upward from the level of 1.1764 (closing of yesterday's daily candle) with the target of 1.1787 - the 23.6% retracement level (yellow dashed line). After testing this level, the price may continue to move upward with the target of 1.1810 - the 38.2% retracement level (yellow dashed line).

Alternative scenario: the price may move downward from the level of 1.1764 (closing of yesterday's daily candle) with the target of 1.1723 - the support line (white thick line). After testing this line, the price may roll back up and reach the lower fractal at 1.1750 (yellow dashed line).