Trend analysis (Fig. 1).
On Friday, the price can continue to move down with the first target of 1.1140, the retracement level of 38.2% presented in a red dashed line. If this level is reached, resumption of upward movement with the first goal of 1.1166 is possible, this is the historical resistance level presented in a blue dashed line.
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - down;
- trend analysis - up;
- Bollinger Lines - down;
- weekly schedule - up.
General conclusion:
A downtrend is possible on Friday.
An unlikely scenario: from 1.1140 - a retracement level of 38.2% (red dashed line) the price will go down to a retracement level of 50.0% - 1.1110 (red dashed line).
