Trend analysis (Fig. 1).
Today, the market from the level of 1.3844 (closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.3776 - the 50% retracement level (red dotted line). When this level is tested, it is possible to start 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 1.3844 (closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.3776 - the 50% retracement level (red dotted line). When this level is tested, it is possible to start working upwards.
Alternative scenario: from the level of 1.3844 (closing of yesterday's daily candlestick), it will try to continue moving downward with the target of 1.3776 - 50% retracement level (red dotted line). Once this level is tested, it is possible to continue working downward with the target of 1.3727 - the 61.8% retracement level (red dashed line). And from this line, it is possible to work upwards.
