Trend analysis (Fig. 1).
On Wednesday, the price may continue to move down with the first target of 1.1112, a pullback level of 50.0% presented in a red dashed line. If this level is reached, the next goal is at 1.1104, the support line presented in a white bold line, from which upward movement is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
A downward trend is possible on Wednesday until 13:15 UTC.
An unlikely scenario is possible, where from 1.1142 which is a retracement level of 38.2% presented in a red dashed line, the price goes up to a retracement level of 61.8% which is at 1.1209 presented in a blue dashed line.
