Technical review for the medium-term trading.
In the medium term, I expect an uptrend. The targets are on the upside, 1.1650, 1.1750, and 1.25. For the medium-term trading, I determine the direction only according to the daily time frame. I do not consider weekly and monthly time frames at all. So far, there is a reversal process towards the upside on the daily chart. Meanwhile, we will observe this process on H1 and H4.
Technical points on H1 and H4.
At the moment, H4 is directed downwards. But there is no upward zigzag, today it is a mark of 1.1330. After a pullback to the level of 1.1330, we are likely to reach the low of the day once again.
Н1 is directed downwards. It has completed its cycle with zigzags. There are no debts below on H1, but this does not mean that it’s time to go up, the downtrend may continue. I do not consider purchases for the medium term, as H1 has not shown an upward wave yet.
As a result, the daily time frame is directed upwards. And within the day, H1 and H4 are still performing the reversal process for the uptrend.
Intraday levels for today.
The upper level is 1.1274.
The lower level is 1.1207.
The range between the upside and downside is 68 points. The downtrend will be cancelled in case of the breakout of 1.1274. And the breakout of 1.1207 will strengthen the downtrend within the day.