Trend analysis (Fig. 1).
The market may continue to move down today with the target at 1.0892, the lower fractal (red dashed line) upon reaching the next lower target 1.0880, the lower fractal (blue dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - neutral;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion:
A continued downward movement is expected today with the target at 1.0892, the lower fractal (red dashed line).
An unlikely but possible scenario is from the resistance line 1.0914 (red bold line), the price will go up to 1.0943, the pullback level of 14.6% (red dashed line).
