Trend analysis (Fig. 1).
On Thursday, the market may try to break through the upper fractal - 1.1181 (red dashed line). However, everything will depend on the release of news on interest rates and a press conference.
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger Lines - up;
- weekly schedule - up.
General conclusion:
On Thursday, an upward movement is possible.
The first upper target of 1.1181 is the upper fractal (red dashed line).
An unlikely scenario is a downward movement with the target of 1.1066 - a pullback level of 38.2% (red dashed line).
Today, the main driver of the market will be the news that comes out at 11.45 and 12.30 Universal time (Euro).