Trend analysis (Fig. 1).
The market may move down on Monday from the level of 1.3540 (closing of Friday's daily candle) to the target level of 1.3493, the 14.6% retracement level (red dotted line). Upon reaching this level, the price may move up to the target level of 1.3549, the upper fractal (red dotted line).
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
The price may move down from the level of 1.3540 (closing of Friday's daily candle) to the target level of 1.3493, the 14.6% retracement level (red dotted line). Upon reaching this level, the price may move up to the target level of 1.3549, the upper fractal (red dotted line).
Alternative scenario: from the level of 1.3540 (closing of Friday's daily candle), the price may move down to the target level of 1.3493, the 14.6% retracement level (red dotted line). Upon reaching this level, the price may continue to move down to the target level of 1.3459, the 23.6% retracement level (red dotted line), where the price may start to move up.
