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Trend Analysis (Fig. 1).
On Monday, the market, from the level of 1.1512 (the close of Friday's daily candle), may begin moving upward toward 1.1556 — a historical resistance level (blue dashed line). Upon reaching this level, a downward move is possible toward 1.1546 — the 8-period EMA (thin blue line).
Fig. 1 (daily chart).
Comprehensive Analysis:
Overall conclusion: upward trend.
Alternative scenario: From the level of 1.1512 (the close of Friday's daily candle), the price may begin moving upward toward 1.1546 — the 8-period average line (thin blue line).
Upon reaching this line, a pullback downward is possible toward 1.1534 — the 14.6% retracement level (yellow dashed line).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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