Trend analysis (Fig. 1).
Today, the downward trend is likely to continue from the level of 1.0861 - a 50% pullback level (presented in a blue dashed line) with a target at the lower fractal 1.0768 (presented in a red dashed line). Upon reaching this level, the price may continue to move downward with the target at the next lower fractal 1.0728 (presented in a red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - neutral;
- Bollinger Lines - down;
- Weekly schedule - down.
General conclusion:
Today, the price may continue to move downward with the target at the lower fractal 1.0728 (presented in a red dashed line).
Another possible scenario is a bullish trend from the level of 1.0829 - a 38.2% retracement level (presented in a blue dashed line) with a target at 1.0892 - a 61.8% retracement level (presented in a blue dashed line).
