On Friday, these are the following strong calendar news:
- 7.55 London time. EUR, change in the number of unemployed in Germany (Apr), the expected value is -15K compared to the previous value of -19K;
- 12.30 London time. USD, GDP (q / q) (1 sq.), The expected value is 2.0% compared to the previous value is 2.9%.
Trend analysis (Figure 1).
On Thursday, the price continued to move downwards (a considerable role to this also included news), according to the weekly schedule. On Friday, the downward movement may continue. The first target will be at 1.2055 with a 50% recoil level. 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;
- candle analysis - neutral;
- trend analysis - down;
- Bollinger lines - up;
- Weekly schedule - down.
General conclusion.
On Friday, the downward movement may slow down for a very trivial reason and the profit-taking of bears (everything will depend on greed). Yet if they overcome this defect, the first target on further downward movement to the level of 1.2055 with 50% recoil level.
