Trend analysis (Fig. 1).
On Wednesday, the price may continue to move down to the support level of 1.2789 (red bold line). From this level, there is an opportunity to work upwards, with the installation of a pending buy limit order at a price of 1.2792 with a stop at 1.2762.
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 price may continue to move down.
The first lower target is the support level of 1.2789 (red bold line). From this level, there is an opportunity to work upwards, with the installation of a pending buy limit order at a price of 1.2792 with a stop at 1.2762.
It is unlikely, but a possible scenario which is from the level of 1.2789, the movement down to the lower fractal is 1.2769.
