Trend analysis
On Friday, the price from the level of 1.3829 (closing of yesterday's daily candle) will attempt to continue to decline, with the target of 1.3669 (blue dotted line) – the lower fractal. After reaching this level, the price may start rising towards the target of 1.3750 (blue dotted line) – the pullback level of 14.6%.
Figure 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - down
- Fibonacci levels - down
- Volumes - down
- Candlestick analysis - up
- Trend analysis - up
- Bollinger lines - down
- Weekly chart - up
Overall conclusion:
Today, the price from the level of 1.3829 (closing of yesterday's daily candle) will attempt to continue its downward movement, with the target of 1.3669 (blue dotted line) – the lower fractal. After reaching this level, the price may start increasing towards the target of 1.3750 (blue dotted line) – the pullback level of 14.6%.
Alternatively, the price from the level of 1.3829 (closing of yesterday's daily candle) will attempt to resume its decline to the target of 1.3669 (blue dotted line) – the lower fractal. After testing this level, it may further move downwards to the target of 1.3562 (red dotted line) – the pullback level of 23.6%. Once the price reached this line, it may start rising.
