Trend analysis (Fig. 1).
Today, the market from the level of 1.3982 (closing of yesterday's daily candlestick) may continue to move downward with the target of 1.3957 - the 50.0% retracement level (red dotted line). Upon reaching this level, it is possible to start moving upward with the target of 1.4011 - the 61.8% retracement level (blue dashed line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly chart - down.
General conclusion:
Today, the price from the level of 1.3982 (closing of yesterday's daily candlestick) may continue to move downward with the target of 1.3957 - the 50.0% retracement level (red dotted line). Upon reaching this level, it is possible to start moving upward with the target of 1.4011 - the 61.8% retracement level (blue dashed line).
Alternative scenario: from the level of 1.3982 (closing of yesterday's daily candlestick), it may continue to move down with the target at 1.3957 - the 50.0% retracement level (red dotted line). Upon reaching this level, it is possible to continue moving downward with the target of 1.3889 - the retracement level of 61.8% (red dotted line).
And then, after testing this level, it is possible to work upwards.
