Trend analysis (Fig. 1).
Today, from the level of 1.2137 (the closing of yesterday's daily candle), the market will try to continue moving down with the target of 1.2072 which is the historical support level (blue dotted line). After reaching this level, it can continue to work downwards with the target of 1.2020 which is the lower border of the Bollinger Line indicator (the black dotted line).
Figure 1 (daily chart).
Comprehensive Analysis:
- Indicator Analysis – down
- Fibonacci Levels – down
- Volumes – down
- Technical Analysis – down
- Trend Analysis – down
- Bollinger Bands – down
- Weekly Chart - down
General Conclusion:
Today, from the level of 1.2137 (the closing of yesterday's daily candle), the price will try to make a downward movement with the target of 1.2072 which is the historical support level (blue dotted line). After testing this level, it can continue to work downwards with the target of 1.2020 which is the lower border of the Bollinger Line indicator (the black dotted line).
Alternative Scenario: From the level of 1.2137 (the closing of yesterday's daily candle), the price will try to make a downward movement with the target of 1.2063 which is a pullback level of 38.2% (the red dotted line). After testing this level, it can move up with a target of 1.2102 which is a pullback level of 76.4% (yellow dotted line).
