Trend analysis (Fig. 1).
Today, the market from the level of 1.3918 (closing of last Friday's daily candlestick) may continue to move down with the target of 1.3833 - the support line (red bold line). When testing this line, it is likely to work up with the target of 1.4003 – the upper fractal (daily candlestick from 12.03.2021).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – down.
General conclusion:
Today, the price from the level of 1.3918 (closing of last Friday's daily candlestick) may continue to move down with the target of 1.3833 - the support line (red bold line). When testing this line, it is likely to work up with the target of 1.4003 – the upper fractal (daily candle from 12.03.2021).
Unlikely scenario: from the level of 1.3918 (closing of last Friday's daily candlestick), the price may continue to move down with the target of 1.3833 - the support line (red bold line). When testing this line, it is possible to continue working downwards with the target of 1.3705 – the lower border of the Bollinger Line indicator (black dotted line).
