Trend analysis (Fig. 1).
The market may move down on Monday from the level of 1.3524 (close of Friday's daily candle) to the target level of 1.3460, the 61.8% retracement level (red dotted line). Upon reaching this level, the price may move up to the target level of 1.3551, the 50% retracement level (blue dotted line).
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - down.
General conclusion:
The price may move down today from the level of 1.3524 (close of Friday's daily candle) to the target level of 1.3460, the 61.8% retracement level (red dotted line). Upon reaching this level, the price may move up to the target level of 1.3551, the 50% retracement level (blue dotted line).
Alternative scenario: from the level of 1.3524 (close of Friday's daily candle), the price may continue to move up to the target level of 1.3654, the resistance line (bold yellow line).
