Trend analysis (Fig. 1).
The market may move down from the level of 1.1018 (close of yesterday's daily candle) to 1.0971, the 50.0% retracement level (yellow dotted line). In case of testing this level, the price may continue to move downward to 1.0932, the 61.8% retracement level (yellow dotted line). From this level, upward movement is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger bands - down;
- Weekly chart - down.
General conclusion:
The price may move down from the level of 1.1018 (close of yesterday's daily candle) to 1.0971, the 50.0% retracement level (yellow dotted line). In case of testing this level, the price may continue to move downward to 1.0932, the 61.8% retracement level (yellow dotted line). From this level, upward movement is possible.
Alternative scenario: from the level of 1.1018 (close of yesterday's daily candle), the price may move downward to 1.0971, the 50.0% retracement level (yellow dotted line). In case of testing this level, the price may move upward to the target level of 1.1064, the 38.2% retracement level (blue dotted line).
