Trend analysis (fig. 1).
On Tuesday, the pair will move down from the level of 1.3898 (closing level of yesterday's candlestick) to the target at 1.3816, which is the 14.6% fibo retracement level (red dotted line). When testing this level, the price may continue its downward movement to the target of 1.3688 - the lower boundary of the Bollinger line (black dotted line).
fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - down;
- trend analysis - down;
- Bollinger lines - down;
- weekly chart - down.
Conclusion:
Today, the price will try to continue its downward movement from the level of 1.3898 (closing level of yesterday's candlestick) with the target located at 1.3816, the retracement level of 14.6% (red dotted line). When testing this level, the price may continue to move down to the target of 1.3688 - the lower boundary of the Bollinger line (black dotted line).
Alternative scenario: the price will continue the downtrend from the level of 1.898 (closing level of yesterday's candlestick) with the target located at 1.3816, the retracement level of 14.6% (red dotted line). When testing this level, the price may start to move upwards with the target at 1.3944, the 85.4% retracement level (yellow dashed line).
