Trend analysis (pic. 1)
On Friday, the pair may continue to decline from the level of 1.3553 (yesterday's close of the daily candlestick) towards the target at 1.3500, which corresponds to the Fibo retracement level of 50% (red dashed line). After testing this level, the quote may move up to 1.3578, which comes in line with the 61.8% Fibo retracement level (yellow dashed line).
Pic. 1 (daily chart).
Comprehensive analysis
- indicator analysis – downwards;
- Fibonacci levels – downwards;
- volume analysis – downwards;
- candlestick analysis – downwards;
- trend analysis – downwards;
- Bollinger bands – upwards;
- weekly chart – downwards.
Conclusion
Today, the pair may continue to decline from the level of 1.3553 (yesterday's close of the daily candlestick) towards the target at 1.3500, which corresponds to the Fibo retracement level of 50% (red dashed line). After testing this level, the quote may start an upward movement towards 1.3578, which comes in line with the 61.8% Fibo retracement level (yellow dashed line).
Unlikely scenario: the quote may continue the downtrend from the level of 1.3553 (yesterday's close of the daily candlestick) towards 1.3466, which corresponds to the 61.8% Fibo retracement level (red dashed line). After testing this line, the pair may start moving upwards to 1.3578, which is the Fibo retracement level of 61.8% (yellow dashed line).
