Trend analysis (Fig. 1).
Today, the market from the level of 1.3750 (closing of yesterday's daily candlestick) will move down to the target of 1.3668 - the 76.4% retracement level (red dotted line). When this level is tested, an upward pullback is possible.
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly chart - down.
General conclusion:
Today, the price from the level of 1.3750 (closing of yesterday's daily candlestick) will move down to the target of 1.3668 - the 76.4% retracement level (red dotted line). When this level is tested, an upward pullback is possible.
Alternative scenario: from the level of 1.3750 (closing of yesterday's daily candlestick), it may continue to move down with the target at 1.3668 - the 76.4% retracement level (red dotted line). And from this level, the downward movement may continue with the target of 1.3630 - the 85.4% retracement level (red dotted line). When this level is tested, it is possible to move upward.
