On Monday, these are the following news:
- 7.30 London time. EUR, PMI in Germany (Apr). The expected value is 57.6 compared to the previous value of 58.2;
- 12.30 London time. USD, sales in the secondary housing market (Mar). The expected value is 5.55M compared to the previous value of 5.54M.
Trend analysis (Figure 1).
On Friday, the price continued to move down. On Monday, there is a high probability for the market to continue its downtrend to the support line of 1.2233 (white line). A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - neutral;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - up.
General conclusion.
On Monday, the market will move down with the first target at the support line of 1.2233. After that, an upward movement is possible.
