Trend analysis (Fig. 1).
The market may begin to move downward from the level of 1.2883 (closing of yesterday's daily candle) with the target of 1.2808 - a 14.6% pullback level (red dotted line). If this level is reached, the downward trend may continue with the next target of 1.2749 - a 23.6% pullback level (red dotted 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 begin to move downward from the level of 1.2883 (closing of yesterday's daily candle) with the target of 1.2808 - a 14.6% pullback level (red dotted line). From this level, the price may continue to move downward with the next target of 1.2749 - a 23.6% pullback level (red dotted line).
Another possible scenario is a continuation of the upward trend from the level of 1.2883 (closing of yesterday's daily candle) with the target of 1.3160 (blue dotted line).
