Trend analysis (Fig. 1).
Today, from the level of 1.3855 (closing of yesterday's daily candle), the market may continue to move down with the target of 1.3805 - the 13 EMA (yellow thin line). When testing this line, it is possible to continue working downwards with a target of 1.3762 - the 21 period EMA (black thin line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger bands - down;
- Weekly chart - down.
General conclusion:
Today, the price from the level of 1.3855 (closing of yesterday's daily candle) may continue to move down with the target of 1.3805 - the 13 EMA (yellow thin line). When testing this line, it is possible to continue working downwards with a target of 1.3762 - the 21 period EMA (black thin line).
Unlikely scenario: from the level of 1.3855 (closing of yesterday's daily candle), the pair may start moving up with the target of 1.3944 – the 85.4% retracement level (yellow dotted line). When testing this line, it is possible to continue working upwards with the target of 1.4003 – the upper limit of the Bollinger Line indicator (black dotted line).
