Trend analysis (Fig. 1).
A downward movement is possible today with the first target of 1.1033, the lower fractal in a red dashed line. Upon reaching this level, there is a continuation of work down with the goal of 1.1018, the retracement level of 76.4% presented in a red dotted line.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - up.
General conclusion:
Continuation of the downward movement is expected today with the first target of 1.1018, the retracement level of 76.4% presented in a red dashed line.
An unlikely but possible scenario is from a retracement level of 61.8% equivalent to 1.1033 presented in a red dashed line, the price will go up to 1.1051, the retracement level of 23.6% presented in a blue dashed line.
