On Monday, there is no expected strong calendar news to be released and the market will work on technical analysis.
Trend analysis (Figure 1).
On Friday, the price continued to move downward, breaking through the recession level of 38.2% 1.1708 (yellow dotted line). On Monday, the downward movement will most likely continue to the support line of 1.1554 (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 - down;
- volumes - down;
- candle analysis - neutral;
- trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion.
On Monday, the market will move down towards the first goal of 1.1695 at the support line (white line). Then, it is possible to move to the top.
