On Friday, the pair moved up and almost tested the retracement level of 61.8% which is at 1.1209 presented in a blue dashed line and then flew down, closing slightly above the retracement level of 38.2% equivalent to 1.1091 presented in a red dashed line. Strong Monday news is not expected today.
Trend analysis (Fig. 1).
On Monday, the price may continue to move up with the first target 1.1146 which is a pullback level of 50% presented in a blue dashed line. If it is achieved, the continuation of work upwards with the target 1.1201 is the upper fractal.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
On Monday, an upward movement is possible. Also, the price can continue to move up with the target 1.1201 the upper fractal presented in a red dashed line.
An unlikely scenario that is from the level of 1.1123, the price goes down to the lower target 1.1091 where the pullback level is 50.0% presented in a red dotted line.