Trend analysis (Fig. 1).
Today, the price from the level of 1.1324 (closing of yesterday's daily candle) is expected to further decline in order to reach the lower fractal – 1.1298 (daily candle from 12/30/2021). After testing this level, the upward movement may continue to the target of 1.1369 – the upper border of the Bollinger line indicator (black dotted line).
Fig 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - down
- Fibonacci levels - down
- Volumes - up
- Candlestick analysis - up
- Trend analysis - up
- Bollinger lines - up
- Weekly chart - up
General conclusion:
The price from the level of 1.1324 (closing of yesterday's daily candle) may continue to fall today in order to reach the lower fractal – 1.1298 (daily candle from 12/30/2021). Once this level is tested, it may grow again to the target of 1.1369 – the upper border of the Bollinger line indicator (black dotted line).
As an alternative, it is possible for the price from the level of 1.1324 (closing of yesterday's daily candle) to continue to decline to reach the lower fractal of 1.1273 (daily candle from 12/29/2021). After testing it, it is likely to rise to the target of 1.1317 – 21 average EMA (black thin line).
