Trend analysis (Fig. 1).
Today, the pair may continue trading downwards from the level of 1.0912 (closing of yesterday's candle) with the first target at 1.0857 - a 61.8% retracement level (presented in a blue dashed line). If this level is broken down, the price will continue to move downward with the target of 1.0822 - a 76.4% retracement level (presented in a blue dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - up.
General conclusion:
Today, the price will continue trading downward with the target of 1.0822 - a 76.4% retracement level (presented in a blue dashed line).
A bullish reversal is also possible today from a pullback level of 61.8% - 1.0857 (red dashed line) with a target at 1.0893 - a 61.8% retracement level (presented in a red dashed line).
