Trend analysis (Fig. 1).
Today, from the level of 1.1761 (the closing of last Friday's daily candlestick), the market may move downwards and test the 85.4% retracement level - 1.1711 (red dotted line). If this level is tested, the price may start moving up to the target of 1.1745 – the 14.6% 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 output:
Today, from the level of 1.1761 (the closing of last Friday's daily candlestick), the price may move down and test the 85.4% retracement level - 1.1711 (red dotted line). If this level is tested, the price may start moving up to the target of 1.1745 – the 14.6% retracement level (blue dotted line).
An unlikely scenario: from the level of 1.1761 (the closing of last Friday's daily candlestick), the pair may move up and the 38.2% retracement level - 1.1813 (blue dotted line) can be tested. If this level is tested, the price may continue to move up to the target of 1.1846 – the 50.0% retracement level (blue dotted line).
