Trend analysis (Fig. 1).
Today, a downward pullback is possible after unsuccessfully testing the upper fractal 1.2730 (presented in a red dashed line) with the target of 1.2576 - a 23.6% pullback level (presented in a red dashed line). If this line is reached, the downward trend may continue with the target of 1.2482 - a 38.2% pullback 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 - down.
General conclusion:
Today, the price may begin to move downward with the target of 1.2576 - a 23.6% pullback level (presented in a red dashed line). If this line is reached, the downward trend may continue with the target of 1.2482 - a 38.2% pullback level (presented in a red dashed line).
Another possible scenario is an upward trend after reaching 1.2576 - a 23.6% retracement level (presented in a red dashed line) with the target at the upper fractal 1.2730 (presented in a red dashed line).
