Trend analysis (Fig. 1).
The market may move down on Monday from the level of 1.1314 (closing of Friday's daily candle) with the target at 1.1246, the support line (blue bold line). When testing this line, the price may continue to move upward with the target at 1.1306, the 23.6% retracement level (blue dashed line).
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger lines - down;
- Weekly chart - down.
General conclusion:
The price may move down from the level of 1.1314 (closing of Friday's daily candle) with the target at 1.1246, the support line (blue bold line). When testing this line, the price may continue to move upward with the target at 1.1306, the 23.6% retracement level (blue dashed line).
Unlikely scenario: the price may start moving up from the level of 1.1314 (closing of Friday's daily candle) with the target at 1.1354, the upper fractal (red dotted line). When testing this level, the price may continue to move upward with the target at 1.1378, the 38.2% retracement level (blue dashed line).
