The pair continued to move down on Friday, breaking the support line of the downward channel 1.0960 (red bold line), and the news played a significant role in this. Today, strong calendar news is not expected. The price may roll back up.
Trend analysis (Fig. 1).
Today, a retraceable upward movement is possible with the target of 1.0986, the retracement level of 14.6% (red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - down.
General conclusion:
Today, a retracement upward movement is expected with the target of 1.0986, the retracement level of 14.6% (red dashed line).
An unlikely but possible scenario is from the resistance line 1.0956 (red bold line), the price will go down to the lower fractal 1.0880 (blue dashed line).