Trend analysis (Fig. 1).
Today, the market from the level of 1.3761 (closing of last Friday's daily candlestick) may roll back down to the lower fractal - 1.3731 (blue dotted line). Once this level is tested, it is possible to move upward with the target at 1.3803 - the 14.6% retracement level (blue dashed line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
Today, the price from the level of 1.3761 (closing of last Friday's daily candlestick) may roll back down to the lower fractal - 1.3731 (blue dotted line). Once this level is tested, it is possible to move upward with the target at 1.3803 - the 14.6% retracement level (blue dashed line).
Alternative scenario: from the level of 1.3761 (closing of last Friday's daily candlestick), it may roll back down to the lower fractal - 1.3731 (blue dashed line). When this level is tested, it is possible to move downward with the target of 1.3676 - the retracement level of 76.4% (yellow dashed line).
