Trend analysis (Fig. 1).
On Monday, the market from the level of 1.2165 (closing of last Friday's daily candlestick) may start moving down, with the target at 1.2107 - the 14.6% retracement level (red dotted line). Once this level is tested, the price may continue to move upward, with the target at 1.2166 - the price level of 161.8% (blue dashed line). And if so, the upward movement is likely to continue.
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger lines - up;
- Weekly chart - down.
General conclusion:
Today, the price from the level of 1.2165 (closing of last Friday's daily candlestick) may start moving down, with the target at 1.2107 - the 14.6% retracement level (red dotted line). Once this level is tested, the price may continue to move upward, with the target at 1.2166 - the price level of 161.8% (blue dashed line). And if so, the upward movement is likely to continue.
Alternative scenario: the price from the level of 1.2165 (closing of last Friday's daily candlestick), may start moving up, with the target at 1.2223 - the upper border of the Bollinger line indicator (black dashed line).
