Trend analysis (Fig. 1).
Today, the market will try, for the third time, to overcome the rollback level of 61.8% - 1.1053 (blue dotted line), but, according to the author, it is unlikely to succeed. An upward movement is possible from this line with the target of 1.1198, a retracement level of 23.6% (red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
Today, from a retracement level of 61.8% - 1.1053 (blue dashed line) the price may most likely begin to move up with the first target of 1.1198, a retracement level of 23.6% (red dashed line). Upon reaching this line, the continuation of upward movement is possible with the target at the upper fractal of 1.1222 (blue dashed line).
An unlikely scenario: from a retracement level of 61.8% - 1.1053 (blue dashed line), work down with the target of 1.0948, a retracement level of 76.4% (blue dashed line).
