Trend analysis (Fig. 1).
On Wednesday, the downward movement with the target of 1.1065 is the support line (blue bold line). There is a chance of breaking this line down and then continue to the next target of 1.1053, which is the lower fractal.
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - down;
- trend analysis - down;
- Bollinger Lines - down;
- weekly schedule - down.
General conclusion:
On Wednesday, the downward movement with the target of 1.1065 is the support line (blue bold line). There is a chance of breaking this line down and then continue to the next target of 1.1053, which is the lower fractal.
An unlikely scenario is an upward movement with a target of 1.1100 - a pullback level of 23.6% (yellow dashed line).
