Trend analysis (Fig. 1)
On Tuesday, the market from the level of 1.1814 (closing of yesterday's daily candle) can roll back down with the goal of 1.1749 to the retracement level of 38.2% (blue dotted line). After testing this line, the price will continue to work down with the target of 1.1723 - a pullback level of 50.0% (blue dotted line). However, all of this does not change the upward trend yet.
Figure 1 (daily chart).
Complex analysis:
- Indicator analysis - downward;
- Fibonacci levels - downward;
- Volumes - downward;
- Technical analysis - downward;
- Trend analysis - upward;
- Bollinger bands - upward;
- Weekly chart - upward.
General conclusion:
The price from the level of 1.1814 (closing of yesterday's daily candle) can roll back down with the goal of 1.1749 to the retracement level of 38.2% (blue dotted line) today. After testing this line, the price will continue to work down with the target of 1.1723 - a pullback level of 50.0% (blue dotted line).
Here's an unlikely scenario: when working down, after reaching the pullback level of 23.6% - 1.1781 (blue dotted line) - work up, with the target 1.1833 - upper fractal (blue dotted line).
