Trend analysis (Fig. 1).
The market may move down from the level of 1.3199 (close of yesterday's daily candle) to the target level of 1.3169, the support line (thick blue line). In case of testing this level, the price may move upward the target level of 1.3244, the 38.2% retracement level (blue dotted line). In case of testing this level, the upward movement may continue.
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 - up.
General conclusion:
The price may move down from the level of 1.3199 (close of yesterday's daily candle) to the target level of 1.3169, the support line (thick blue line). In case of testing this level, the price may move upward the target level of 1.3244, the 38.2% retracement level (blue dotted line). In case of testing this level, the upward movement may continue.
Alternative scenario: from the level of 1.3199 (close of yesterday's daily candle), the price may move down to the target level of 1.3169, the support line (thick blue line). In case of testing this level, the price may continue to move down to the target level of 1.3112, the 61.8% retracement level (yellow dotted line). In case of testing this level, the price may move up.
