Trend analysis (Fig. 1).
The market may roll back down from the level of 1.1598 (closing of yesterday's daily candle) with the target of 1.1560 - a 14.6% pullback level (red dotted line). Upon reaching this level, the downward trend may continue with the next target of 1.1519 - a 23.6% 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 chart - down.
General conclusion:
Today the price may move downward with the target of 1.1560 - a 14.6% pullback level (red dotted line). Upon reaching this level, the downward trend may continue with the next target of 1.1519 - a 23.6% pullback level (red dashed line).
Another possible scenario is an upward movement after breaking through the resistance line 1.1599 (black bold line) with the next target at 1.1824 - a 61.8% pullback level (blue dashed line).
