Trend analysis (Fig. 1).
Today, the market from the level of 1.1880 (the opening of the daily candle with a gap today), while moving down, may retest the 76.4% retracement level - 1.1872 (blue dotted line). If this level is tested, the price may continue to move down with the target of 1.1836 – the lower fractal (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 1.1880 (the opening of the daily candle with a gap today), while moving down, may retest the 76.4% retracement level - 1.1872 (blue dotted line). If this level is tested, the price may continue to move down with the target of 1.1836 – the lower fractal (blue dotted line).
Unlikely scenario: the price from the level of 1.1880 (the opening of the daily candle with a gap today), while moving down, may retest the 76.4%, retracement level which is 1.1872 (blue dotted line). If this level is tested, the price may start moving up with a target of 1.1954, the historical resistance level (blue dotted line).
