Trend analysis (Fig. 1).
Today, the market from the level of 1.1940 (closing of yesterday's daily candlestick) will try to start moving down with the target at 1.1918 - the 61.8% retracement level (red dotted line). If this level is tested, it is possible to move upward with the target of 1.2007 - the 38.2% retracement level (blue dashed line).
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 1.1940 (closing of yesterday's daily candlestick) will try to start moving down with the target at 1.1918 - the 61.8% retracement level (red dotted line). If this level is tested, it is possible to move upward with the target of 1.2007 - the 38.2% retracement level (blue dashed line).
Alternative scenario: from the level of 1.1940 (closing of yesterday's daily candlestick), it will try to start moving down with the target at 1.1847 - the lower fractal (blue dashed line). If this line is tested, it is possible to start moving upward with the target at 1.1908 - the 14.6% retracement level (blue dashed line).
