On Wednesday, the following strong calendar news comes out:
- 14.00 London time. USD, crude oil reserves. USD, the expected value is -2.043M compared to the previous value of -1.071M.
Trend analysis (Figure 1).
On Tuesday, the price tests the cloud consisting of the support line 1.2183 and the lower boundary of the indicator of the Bollinger line 1.2212 then went into an upward rollback. On Wednesday, the downward movement may continue. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - down.
General conclusion.
On Wednesday, the market will move down with the first target of 1.2191 on the support line.
