Trend Analysis (Figure 1).
Today, the market will go down from the level of 1.2217 (closing of Friday's daily candle) and can test the pullback level of 23.6% at 1.2172 (red dotted line). If this level is tested, the price may continue to go down with a target of 1.2063 at the pullback level of 38.2% (red dotted line).
Figure 1 (daily chart).
Comprehensive Analysis:
- Indicator Analysis - down
- Fibonacci Levels - down
- Volumes - down
- Technical Analysis - down
- Trend Analysis - up
- Bollinger Bands - down
- Weekly Chart - down
General Conclusion:
Today, the market will go down from the level of 1.2217 (closing of Friday's daily candle) and can test the pullback level of 23.6% at 1.2172 (red dotted line). If this level is tested, the price may continue to go down with a target of 1.2063 at the pullback level of 38.2% (red dotted line).
Alternative scenario: from the level of 1.2217 (closing of Friday's daily candle), it will go down and can test the pullback level of 23.6% at 1.2172 (red dotted line). If this level is tested, the price may start going up with a target of 1.2234 at the historical resistance level (blue dotted line).
