Trend analysis (Fig. 1).
On Monday, from the level of 1.2018 (the closing of last Friday's daily candlestick), the market may continue to move down, with a target of 1.1968 - the 38.2% retracement level (red dotted line). If this level is tested, the price may start moving up, with a target of 1.2075 - the historical resistance 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 - up;
- Weekly chart - down.
General conclusion:
Today, from the level of 1.2018 (the closing of last Friday daily candlestick), the price is likely to continue moving down, with a target of 1.1968 - the 38.2% retracement level (red dotted line). If this level is tested, the price may start moving up, with a target of 1.2075 - the historical resistance level (blue dotted line).
Unlikely scenario: the price from the level of 1.2018 (the closing of last Friday daily candlestick) may start moving up, with a target of 1.2075 - the historical resistance level (blue dotted line).
