Trend analysis (Fig. 1).
Today, the downward trend is likely to continue from the level of 1.2235 (closing of yesterday's candle) with a target at 1.2174 - a 38.2% pullback level (presented in a blue dotted line). If this level is reached, the downward movement may continue with a target at 1.2029 - a 50.0% pullback level (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 - down;
- Bollinger Lines - down;
- Weekly schedule - down.
General conclusion:
Today, the price may continue to move downward with a target at 1.2029 - a 50.0% pullback level (presented in a blue dashed line).
Another possible scenario is an upward trend from 1.2174 - a 38.2% pullback level (presented in a blue dashed line) with a target at 1.2351 - a 38.2% pullback level (presented in a red dashed line).
