Trend analysis (Fig. 1).
Today, the market from the level of 1.3781 (closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.3752 - the 85.4% retracement level (red dotted line). Upon reaching this level, the price may start moving upwards with the target of 1.3803 - the 14.6% 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 1.3781 (closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.3752 - the 85.4% retracement level (red dotted line). Upon reaching this level, the price may start moving upwards with the target of 1.3803 - the 14.6% retracement level (blue dashed line).
Alternative scenario: from the level of 1.3781 (closing of yesterday's daily candlestick), it will try to continue moving down with the target of 1.3752 - the 85.4% retracement level (red dotted line). Upon reaching this level, the price may continue to move downward with the target at 1.3731 - the lower fractal (blue dotted line). From this level, it may move upward.
