Daily Chart
A quote from Yesterday’s review
Yesterday was another day that joins the last seven candles in which the price is ranging in the range of between the 1.3077 and the 1.3210 price levels, the price started the week under the closure of the previous, we have seen a sharp descending move and then the buyers came back into action and pushed the price back to the center of the range. The difference between this day and its previous is the fact that the price did not reach the higher lip of the range, is that a clue to for the future? We think that only a closure of the candle above or under the mentioned levels will define the direction of the price for the short term.
Current review for today
First of all it is important to mention that by breaking the 1.3200 the price has created an ascending price structure and the 1.3200 price level is used as a support level and suppose to be unbreakable without the option to go back. From here we are expecting to have a continuation of the uptrend with next target on the 1.3436 price level which is a 50% Fibonacci correction of the last downtrend (red broken line). In any way it is possible to see that the price has corrected a third of it by reaching the 1.3245 price level. Only if the price will go down under the 1.3200 price level, this assumption will not be valid.
You can see the chart below: 