Trend analysis (Fig. 1).
Today, the bearish trend may continue from the level of 1.0779 (closing of yesterday's candle) with the first target at 1.0711 - an 85.4% retracement level (presented in a blue dashed line). When this level is broken down, the price may continue to move downward with the target at the support line 1.0700 (presented in a red bold line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion:
Today, the price may continue to move downward with the target at the support line 1.0700 (presented in a red bold line). A rollback is possible from this line, but this scenario is possible only with negative news for the dollar.
Another possible scenario is a bearish trend from the support line 1.0700 (presented in a red bold line) with the target at the lower fractal 1.0636 (presented in a blue dashed line), but this scenario is possible only with positive news for the dollar.
