On the daily chart, the growth continued after overcoming the resistance level of 1.2400. The formation of a wide-range growth candle on Thursday suggests that growth is likely to continue in the short term, as strong momentum usually persists for some time. It is also important that a wide-range candle was formed when the psychologically important 1.2500 level broke through, where the lows were in August and September. The pair approached the next strong resistance at 1.2600. It seems more likely that this level will be overcome. This would open the way to the next "round" level of 1.2700. According to the directional movement indicators, the trend is growth: DM+ is already higher than DM-, the MACD histogram is growing in a positive zone, the MACD line has a positive slope.
On the four-hour chart, growth accelerated - from slow progress to relatively large pullbacks, the pair has grown by 200 points at once (from 1.24 to 1.26) since November 10 without rollbacks. On the one hand, this shows a strengthening trend and one can be more confident in the continuation of growth, but on the other hand, the size of the wave suggests that a pullback is brewing. However, even if it happens, continued growth seems preferable now. The absence of a pullback from the 1.2600 level now also shows that there is no support even for a corrective decline yet. According to directional movement indicators, growth is a strong trend: the excess of DM+ over DM- has increased, the MACD histogram is in a positive zone, the MACD line has a positive slope.
Resistance levels: 1.2600; 1.2700
Support levels: 1.2500; 1.2450