Trend analysis (Fig. 1).
Today, the market from the level of 1.4201 (closing of yesterday's daily candlestick) will try to start moving down with the target of 1.4149 - the retracement level of 14.6% (red dotted line). Upon reaching this level, the price may continue to move upward with the target at 1.4232 - the upper fractal (red dotted line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.4201 (closing of yesterday's daily candlestick) will try to start moving down with the target of 1.4149 - the retracement level of 14.6% (red dotted line). Upon reaching this level, the price may continue to move upward with the target at 1.4232 - the upper fractal (red dotted line).
Unlikely scenario: from the level of 1.4201 (closing of yesterday's daily candlestick), it will try to start moving down with the target of 1.4149 - a retracement level of 14.6% (red dotted line). Upon reaching this level, the price may continue to move downward with the target of 1.4099 - the retracement level of 23.6% (red dotted line).
