Trend analysis (Fig. 1).
Today, the market from the level of 1.1924 (closing of yesterday's daily candlestick) will try to continue moving down with the target at 1.1847 - the lower fractal (blue dotted line). Once the price tests this level, it may start working upwards with the target at 1.1908 - the retracement level of 14.6% (blue dashed line). Upon reaching this line, it is possible to continue working upwards.
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 1.1924 (closing of yesterday's daily candlestick) will try to continue moving down with the target at 1.1847 - the lower fractal (blue dotted line). Once the price tests this level, it may start working upwards with the target at 1.1908 - the retracement level of 14.6% (blue dashed line). Upon reaching this line, it is possible to continue working upwards.
Alternative scenario: the price from the level of 1.1924 (closing of yesterday's daily candlestick) will try to continue moving down with the target at 1.1908 - the retracement level of 14.6% (blue dashed line). Having tested this level, the market may start working upwards with the target of 1.1946 - the retracement level of 23.6% (blue dashed line).
