Trend analysis (Fig. 1).
A downward movement is possible today with the target of 1.0967, the support line for the downward channel presented in a red bold line. Upon reaching this level, it is possible to work upward with the target of 1.0986, the retracement level of 14.6% presented in a blue dashed line.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion:
A continuation of the downward movement is expected today with the target of 1.0967, the support line for the downward channel presented in a red bold line.
An unlikely but possible scenario is from the support line of the downward channel equivalent 1.0967, presented in a red bold line, the price will go down to the target level of 161.8% equivalent to 1.0928, presented in a red dashed line.
