Trend analysis (Fig. 1).
The market may move down on Tuesday from the level of 1.3532 (close of yesterday's daily candle) to the target level of 1.3459, the 61.8% retracement level (red dotted line). When testing this level, the price may move up to the target level of 1.3505, the 38.2% 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 - up;
- Weekly chart - down.
General conclusion:
The price may move down from the level of 1.3532 (close of yesterday's daily candle) to the target level of 1.3459, the 61.8% retracement level (red dotted line). When testing this level, the price may move up to the target level of 1.3505, the 38.2% retracement level (blue dotted line).
Alternative scenario: from the level of 1.3532 (close of yesterday's daily candle), the price may continue moving down to the target level of 1.3459, the 61.8% retracement level (red dotted line). When testing this level, the downward movement may continue to the target level of 1.3388, the support line (bold red line).
