Today, the market from the level of 1.1951 (closing of last Friday's daily candlestick), while moving down, may retest the 50.0% retracement level - 1.1912 (blue dotted line).
If this level is tested, the price may continue to move down with the target of 1.1894 – the 61.8% retracement level (blue dotted 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 1.1951 (closing of last Friday's daily candlestick), while moving down, may retest the 50.0% retracement level - 1.1912 (blue dotted line). If this level is tested, the price may continue to move down with a target of 1.1894 – the 61.8% retracement level (blue dotted line).
Unlikely scenario: from the level of 1.1951 (closing of last Friday's daily candlestick), the price may continue to move down to the 50.0% retracement level - 1.1912 (blue dotted line). If this level is tested, the price may start moving up with a target of 1.1991 – the 38.2% retracement level (white dotted line).
