Trend analysis (Figure 1).
Last Friday, the market moved in the side channel, observing strong news and technical analysis. On Monday, the market will try for the third attempt to break down the 50% sloping level. The complex analysis will determine accurately the price direction.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined by the oscillator type indicators.
Stochastic indicator (period 3/3/4) on the daily chart shows a downward trend (Fig. 2).
The system of RSI indicators (Figure 2).
When working with the daily chart, the following periods are used in the RSI indicator system: 21 (brown), 8 (blue), 13 (yellow), 5 (red).
At the last day's closed candle.
The calculation of the RSI indicator (5) on the properties moves down.
The calculation of the RSI indicator (8) by properties moves down.
The bottom line of the RSI indicator system shows a downward trend.
The calculation of the CCI indicator on the properties moves down.
The bottom line of the CCI indicator system shows a downward trend.
The result of the indicator analysis shows the price will have a downward trend.
Fig. 2 (daily chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candle analysis - down;
- trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion.
On Monday, the market will move down with its primary goal of 50% -down to 1.2303.
* The presented market analysis is informative and does not constitute a guide to the transaction.
