Trend analysis (Fig. 1).
Today, a downward pullback is possible from the level of 1.2575 (closing of yesterday's candle) with the target of 1.2536 - a 14.6% pullback level (presented in a red dotted line). If this level is broken down, the downward trend may continue with the target of 1.2488 - a 23.6% retracement level (presented in a red dashed 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 - up.
General conclusion:
Today, the price may move downwards with the target of 1.2536 - a 14.6% retracement level (presented in a red dotted line). If this level is broken down, the downward trend may continue with the target of 1.2488 - a 23.6% retracement level (presented in a red dashed line).
Another possible scenario is an upward trend after working down to 1.2536 - a 14.6% pullback level (presented in a red dashed line) with the target at the resistance line 1.2615 (presented in a red bold line).
