Trend analysis (Fig. 1).
Expect a downward movement today, with the target of 1.3106, the retracement level of 23.6% presented in a blue dashed line. In case of testing this line, work up with the target and the upper fractal at 1.3153.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
The price may move down in the side channel today towards the level of 1.3106 and up.
A downward scenario is unlikely but quite possible. That is, from the level of 1.3106, the pullback level of 23.6% presented in a blue dashed line, work down with the target 1.3062, the support line presented in a red bold line.
