Trend analysis (Fig. 1).
Today, from the level of 1.2457 (closing of the Friday afternoon candle) the pair may begin to move down with the first target at 1.2258 - a pullback level of 23.6% (blue dashed line). Upon reaching this line, the possible continuation of work down is towards the target 1.2096, a retracement level of 38.2% (blue dotted line). From this level, an upward movement is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
Today, a downward rollback is possible.
Unlikely scenario: from a retracement level of 23.6% - 1.2258 (blue dashed line) work up with a target of 1.2518, a retracement level of 61.8% (red dashed line).
