Trend analysis (Fig. 1).
The market may move down on Tuesday from the level of 1.3438 (closing of yesterday's daily candle) to the target level of 1.3396, the 14.6% retracement level (red dotted line). When testing this level, the price may move upward to the target level of 1.3481, the historical resistance level (blue dotted line).
Fig. 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:
The price may move down from the level of 1.3438 (closing of yesterday's daily candle) to the target level of 1.3396, the 14.6% retracement level (red dotted line). When testing this level, the price may move upward to the target level of 1.3481, the historical resistance level (blue dotted line).
Alternative scenario: from the level of 1.3438 (closing of yesterday's daily candle), the price may move upwards to the target level of 1.3481, the historical resistance level (blue dotted line).
