Trend analysis (Fig. 1).
On Friday, the market may move downward from the level of 1.1913 (the closing level of yesterday's daily candlestick) and try to reach the 23.6% retracement level, 1.1874 (red dotted line). If this level is tested, it is likely to work upwards to the target set at 1.1927 - the upper fractal (red dotted line).
Figure 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.
General conclusion:
Today, the price is expected to move downward from the level of 1.1913 (the closing level of yesterday's daily candlestick) and try to reach the 23.6% retracement level, 1.1874 (red dotted line). If this level is tested, it is likely to work upwards to the target set at 1.1927 - the upper fractal (red dotted line).
Alternative scenario: the price will move down from the level of 1.1913 (the closing level of yesterday's daily candlestick) and try to reach the 23.6% retracement level, 1.1874 (red dotted line). In case of testing this level, it is likely to continue moving down to the target set at 1.1842 - the 38.2% retracement level (red dashed line).
