Trend analysis (Fig. 1).
Today, the market from the level of 1.3929 (closing of yesterday's daily candlestick) will try to start moving down with the target of 1.3891 - the retracement level of 23.6% (blue dotted line). And upon testing this level, it is possible to continue working upward with the target of 1.3955 - the retracement level of 38.2% (blue dashed line). After reaching this level, downward work is possible.
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- 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 1.3929 (closing of yesterday's daily candlestick) will try to start moving down with the target of 1.3891 - the retracement level of 23.6% (blue dotted line). And upon testing this level, it is possible to continue working upward with the target of 1.3955 - the retracement level of 38.2% (blue dashed line). After reaching this level, downward work is possible.
Alternative scenario: from the level of 1.3929 (closing of yesterday's daily candlestick), it will try to start moving down with the target of 1.3891 - a retracement level of 23.6% (blue dashed line). Upon testing this level, it is possible to continue working downward with the target of 1.3850 - the retracement level of 14.6% (blue dashed line). And after testing this level, it is possible to move upward with the target at 1.3955 - the 38.2% retracement level (blue dashed line).
