The pair moved down on Friday and broke through the lower fractal 1.2921 (white bold line). Today, strong calendar news is not expected. A continued downward movement is possible today with the first target 1.2855, the pullback level 50.0% (yellow dashed line).
Trend analysis (Fig. 1).
Today, it is possible to move down from the resistance level 1.2919 (white bold line), with the first target 1.2700, the retracement level of 61.8% (yellow dashed line). If this level is reached, a continuation of an upward movement with the target of 1.2506, the retracement level of 61.8% (yellow dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger Lines - down;
- Weekly schedule - down.
General conclusion:
Today, the price may continue to move down.
An unlikely, but quite possible scenario is from the level of 1.2919 (white bold line), work up with the target at 1.2960, the retracement level of 23.6% (red dashed line).
