Trend analysis (Fig. 1).
Today, the market from the level of 1.1779 (closing of yesterday's daily candlestick) will try to continue moving down with the target at 1.1755 - the lower fractal (blue dotted line). When this level is tested, it is possible to move upwards with the target at 1.1830 - 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 1.1779 (closing of yesterday's daily candlestick) will try to continue moving down with the target at 1.1755 - the lower fractal (blue dotted line). When this level is tested, it is possible to move upwards with the target at 1.1830 - the 14.6% retracement level (blue dashed line).
Alternative scenario: from the level of 1.1779 (closing of yesterday's daily candlestick), it will try to continue moving down with the target at 1.1755 - the lower fractal (blue dashed line). When this level is tested, the downward movement may extend to the level of 1.1704 - the lower fractal (red dotted line). From this level, it is likely to start moving upward.
