Trend analysis (Fig. 1).
On Wednesday, the first lower target is a pullback level of 23.6% which is equivalent to 1.1068 presented in a blue dashed line. If successful, the next lower target 1.1051 is the retracement level of 38.2% presented in a blue dashed line. From the level of 1.1051, we can expect the upper work with the upper target 1.1094, the upper fractal in blue dashed line. From level 1.1068, upper work is possible although is unlikely to happen.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
On Wednesday, there is a probability of a pullback on a downward movement.
The first lower target is the retreating level of 23.6% which is equivalent to 1.1068 presented in a blue dashed line, and if successful, the next lower target 1.1051 is the retracement level of 38.2% presented in a blue dashed line. From the level of 1.1051, we can expect upper work with the target 1.1094, the upper fractal in a blue dashed line. From level 1.1068, upper work is possible although is unlikely to happen.
