Trend analysis (Fig. 1).
The market may continue to move down from the level of 1.3917 (closing of yesterday's daily candlestick) with the target of 1.3804 - the 76.4% pullback level (red dotted line). Upon reaching this level, the price may start moving upwards with the target of 1.3944 - the 85.4% pullback level (yellow dashed line).
Fig. 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 may continue to move down from the level of 1.3917 (closing of yesterday's daily candlestick) with the target of 1.3804 - the 76.4% pullback level (red dotted line). Upon reaching this level, the price may start moving upwards with the target of 1.3944 - the 85.4% pullback level (yellow dashed line).
Alternative scenario: from the level of 1.3917 (closing of yesterday's daily candlestick), the price may continue moving down with the target of 1.3804 - the 76.4% pullback level (red dotted line). Upon reaching this level, the price may continue to move downward with the target of 1.3752 - the 85.4% pullback level (red dotted line).
