Trend analysis (Fig. 1).
The market from the level of 1.2210 (closing of yesterday's daily candlestick) will try to continue moving downwards with the target of testing the 21 EMA - 1.2165 (black thin line). Once this line is reached, the price may start moving upwards with the target at 1.2234 - the historical resistance level (blue dotted line). And upon reaching this level, the upward movement may continue with the target of 1.2274 - the 85.4% retracement level (yellow dashed 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 market from the level of 1.2210 (closing of yesterday's daily candlestick) will try to continue moving downwards with the target of testing the 21 EMA- 1.2165 (black thin line). Once this line is reached, the price may start moving upwards with the target at 1.2234 - the historical resistance level (blue dotted line). And upon reaching this level, the upward movement may continue with the target of 1.2274 - the 85.4% retracement level (yellow dashed line).
Unlikely scenario: from the level of 1.2210 (closing of yesterday's daily candlestick), it may start moving down with the target of 1.2134 - the 23.6% retracement level (red dotted line). Upon reaching this level, an upward movement may begin with the target of 1.2234 - the historical resistance level (blue dotted line).
