Trend analysis (Fig. 1).
On Friday, the market, after testing the resistance line 1. 1134 - (red bold line), can start a pullback downward, with the first target of 1.1103 - a pullback level of 14.6% (yellow dashed line). If it became successful, the continuation will be to the next lower target of 1.1079, which is a pullback level of 23.6% (yellow dashed line).
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 - up.
General conclusion:
On Friday, a downward movement is possible to the lower target of 1.1103 - a pullback level of 14.6% (yellow dashed line).
If successful, continue to the next lower target of 1.1079 - a pullback level of 23.6% (yellow dashed line).
An unlikely scenario - from the level of 1.1134, moving up to the target of 1.1254 - the target level is 161.8% (blue dashed line).
