Trend analysis (Fig. 1)
Today, the price from the level of 1.3485 (closing of yesterday's daily candle) will decline to the target of 1.3461 – the pullback level of 23.6% (blue dotted line). After testing this level, the continuation of the upward trend can be expected to the target of 1.3495 – the upper fractal (blue dashed line).
Figure 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - down
- Fibonacci levels - down
- Volumes - down
- Candlestick analysis - down
- Trend analysis - up
- Bollinger lines - down
- Weekly chart - up
General conclusion:
The price from the level of 1.3485 (closing of yesterday's daily candle) is expected to fall to the target of 1.3461 – the pullback level of 23.6% (blue dotted line). Once tested, it may further rise to the target of 1.3495 – the upper fractal (blue dashed line).
As an alternative, the price from the level of 1.3485 (closing of yesterday's daily candle) will decline to the target of 1.3439 – the pullback level of 38.2% (blue dotted line). After testing it, the downward trend may resume to the target of 1.3423 – the pullback level of 50.0% (blue dotted line), and only then it is possible to move upward again.
