Trend analysis (Fig. 1).
Today, the market from the level of 1.1776 (closing of yesterday's daily candlestick) will try to continue moving down with the target at 1.1760 - the support line (red bold line). After testing this line, the price may start working upward with the target at 1.1837 - the 23.6% retracement level (blue dashed line). Upon reaching this level, it is likely to continue working upward.
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 1.1776 (closing of yesterday's daily candlestick) will try to continue moving down with the target at 1.1760 - the support line (red bold line). After testing this line, the price may start working upward with the target at 1.1837 - the 23.6% retracement level (blue dashed line). Upon reaching this level, it is likely to continue working upward.
Alternative scenario: the price from the level of 1.1776 (closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.1718 - the support line (white bold line). The price, having tested this line, may start working upwards with the target at 1.1837 - the 23.6% retracement level (blue dashed line).
