Trend analysis (Fig. 1).
It is expected to continue moving down to the level of 1.2792 - the support line (yellow thin line). From this level it is possible to move up to the target 1.1883 - a retracement level of 38.2% (yellow dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
On Friday, the price may continue to move down.
It is expected to continue moving down to the level of 1.2792 - the support line (yellow thin line). From this level it is possible to move up to the target 1.1883 - a retracement level of 38.2% (yellow dashed line).
An unlikely scenario is a downward movement with the target at 1.2764 - a retracement level of 23.6% (blue dashed line).
