Trend analysis (Fig. 1).
Today, a bearish trend is expected from the level of 1.2504 (closing of the Friday afternoon candle) with the first target of 1.2356 - a 23.6% retracement level (presented in a blue dashed line). If this level is broken down, the price may continue to move downward with the target of 1.2175 - a 38.2% retracement level (presented in a blue dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger Lines - up;
- Weekly schedule - down.
General conclusion:
Today, the price may move downward with the target at 1.2175 - a 38.2% retracement level (presented in a blue dashed line).
An unlikely bullish trend is from a retracement level of 23.6% equivalent to 1.2356 (presented in a blue dashed line) with a target of 1.2518 - a 61.8% retracement level (presented in a red dashed line). In case of breaking this level upward, the price may continue to move upward with the target at the upper fractal 1.2648 (blue dashed line).
