Trend analysis (Figure 1).
As expected, the price moved in the side channel on Friday. While the downward movement may continue on Monday. The initial target of 1.2055 is a 50% recoil level. The complex analysis will accurately determine the further direction of the price.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - upwards;
- candle analysis - neutral;
- trend analysis - down;
- Bollinger lines - up;
- Weekly schedule - down.
General conclusion.
On Monday, it is possible to continue rolling back with the first target. 1.2192 - a retracement level of 38.2% (red dotted line).
* The presented market analysis is informative and does not constitute a guide to the transaction.
