Trend analysis (Fig. 1).
On Tuesday, the market from the level of 1.2063 (the closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.2012 - 21 EMA (black thin line). After testing this line, the price may continue to go down, with the target of 1.1980 – the support line of the ascending channel (blue bold line). And upon reaching this line, it is possible to further work up with the 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 - up;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.2063 (the closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.2012 - 21 EMA (black thin line). After testing this line, the price may continue to go down, with the target of 1.1980 – the support line of the ascending channel (blue bold line). And upon reaching this line, it is possible to further work up with the target of 1.2075 – the historical resistance level (blue dotted line).
Alternative scenario: the price from the level of 1.2063 (the closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.2012 - 21 average EMA (black thin line). Once the price tests this level, it may start working up, with a target of 1.2075 - the historical resistance level (blue dotted line).
