Trend analysis (Fig. 1).
On Friday, the market, moving down, will try to reach a pullback level of 50% - 1.1031 (red dashed line) and, if successful, can continue to move down with the target of 1.0995 - a pullback level of 61.8% (red dashed line), but this is most likely to happen only after lunch. Before lunch, there will be a rolling movement up or the side channel.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger Lines - up;
- Weekly schedule - down.
General conclusion:
On Friday, a downward movement is possible.
The lower target is a retracement level of 50% - 1.1031 (red dashed line) and, if successful, can continue to move down, with a target of 1.0995 - a retracement level of 61.8% (red dashed line), but this is most likely to happen only after lunch. Before lunch, there will be a rolling movement up or the side channel.
An unlikely scenario - all day moving up to the target 1.1084 - retracement level of 38.2% (blue dashed line).
