Trend analysis (Fig. 1).
Today, a downward trend is likely to take place from the level 1.0981 (closing of yesterday's candle) with the target of 1.0945 - a 23.6% retracement level (presented in a red dashed line). From this level, the price may continue to move downwards with the next target of 1.0911 - a 38.2% retracement level (presented in a red dashed line). Upon reaching this level, an upward pullback is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - down;
- Weekly schedule - up.
General conclusion:
Today, a downward trend is likely to take place from the level 1.0981 (closing of yesterday's candle) with the target of 1.0945 - a 23.6% retracement level (presented in a red dashed line). From this level, the price may continue to move downwards with the next target of 1.0911 - a 38.2% retracement level (presented in a red dashed line). Upon reaching this level, an upward pullback is possible.
Another possible scenario is an upward trend from 1.0945 - a 23.6% pullback level (presented in a red dashed line), with the target at the upper fractal 1.1000 (presented in a red dashed line).
