Trend analysis

The price from the level of 1.2216 (closing of the previous weekly candle) may continue to increase this week to the upper fractal of 1.2309 (red dotted line) – the weekly candle from 12/27/2020. Upon reaching this level, the upward movement can possibly continue to the next target at 1.2462 – the historical resistance level (blue dotted line).

Figure 1 (weekly chart)

Comprehensive analysis:

• Indicator analysis - up
• Fibonacci levels - up
• Volumes - up
• Candlestick analysis - up
• Trend analysis - up
• Bollinger lines - up
• Monthly chart - up

An upward movement can be concluded based on comprehensive analysis.

The overall result of the candlestick calculation based on the weekly chart: the price is likely to have an upward trend this week, without a lower shadow in the weekly white candlestick (Monday - up) and with an upper shadow (Friday - down).

The first upper target is 1.2309 (red dotted line) – upper fractal (weekly candle from 12/27/2020). Upon reaching this level, the upward movement can possibly continue to the next target at 1.2462 – the historical resistance level (blue dotted line).

An alternative scenario: the price can rise from the level of 1.2216 (closing of the last weekly candlestick) to the target of 1.2309 (red dotted line) – upper fractal (weekly candle from 12/27/2020). After reaching this level, it is possible to decline to the target of 1.2064 – the pullback level of 14.6% (red dotted line).