On Tuesday, the pair continued moving down, testing the pullback level - 1.2424, but closed higher. On Wednesday, the pair will try to roll back up. Strong calendar news is expected at 14.00 Universal time and 14.30 Universal time (dollar), in the evening waiting for the speech of British Prime Minister May.
Trend analysis (Fig. 1).
On Wednesday, the price may start a pullback upward movement, with the first target of 1.2471 - the pullback level of 38.2% (yellow dotted line).
Fig. 1 (daily schedule).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - up;
- volumes - down;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - down;
- weekly schedule - down.
General conclusion:
On Wednesday, the price may start a pullback upward movement, with the first target of 1.2471 - the pullback level of 38.2% (yellow dotted line).
