On Monday, before lunch (9.00 Universal time), the price will move up, with the target of 1.1110 - a pullback level of 23.6% (yellow dashed line). On Friday, the pair, moving down, tested the support line 1.1070 (blue bold line) and went up, in a pullback. Today, strong calendar news is expected at 9.00 Universal time (euro).
Trend analysis (Fig. 1).
The break down of the support line is unlikely. After testing this line on Friday, a pullback is likely to happen today with the first target 1.1110 - a pullback level of 23.6% (yellow dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger Lines - down;
- weekly schedule - down.
General conclusion: up.
A scenario with a low probability - a downward movement will continue with the first target 1.1028 - the lower fractal.
