Trend analysis (Fig. 1).
Today, the downward trend may continue from the level of 1.2608 (closing of yesterday's candle) with the target of 1.2572 - a 23.6% pullback level (red dotted line). From this level, the price may continue to move down with the next target of 1.2511 - a 38.2% pullback level (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 continue to move downward from the level of 1.2608 (closing of yesterday's candle) with the target of 1.2572 - a 23.6% pullback level (red dotted line). From this level, the downward trend may continue with the next target of 1.2511 - a 38.2% pullback level (red dashed line).
Another possible scenario is an upward pullback upon reaching 1.2532 - a 38.2% retracement level (red dashed line) with the target at the upper fractal 1.2670 (red dashed line).
