Trend analysis (Fig. 1).
On Wednesday, the price, from the level of 1.1075, may continue to move down with the target of 1.1030 - a pullback level of 50.0% (red dashed line). In case of breaking through, continued work down with the target of 1.0995 is a retracement level of 61.8% (red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger Lines - down;
- Weekly schedule - down.
General conclusion:
On Wednesday, a downward movement is possible.
The first lower target 1.1030 is a pullback level of 50.0% (red dotted line). In case of breaking through, continued work down with the target of 1.0995 is a retracement level of 61.8% (red dashed line).
The upper scenario - from the level 1.1075, work up with the target 1.1088 - resistance line (red bold line) and further up to 1.1126 - historical resistance level (blue dashed line).
