Trend analysis (fig. 1).
Today, the pair may drop to the target level of 1.1487 – the Fibonacci retracement level of 38.2% (yellow dotted line) from 1.1530 (the closing of yesterday's daily candlestick). When testing this level, the price could climb to 1.1643 – the historical resistance level (blue dotted line). After reaching this level, it is likely to grow.
Fig. 1 (intraday chart).
Complex analysis
- indicator analysis – up;
- Fibonacci retracement levels – up;
- trading volumes – down;
- candlestick analysis – up;
- trend lines analysis – down;
- Bollinger bands – down;
- weekly chart up.
Conclusion
Today, the pair may drop to the target level of 1.1487 – the Fibonacci retracement level of 38.2% (yellow dotted line) from 1.1530 (the closing of yesterday's daily candlestick). When testing this level, the price could climb to 1.1643 – the historical resistance level (blue dotted line). After reaching this level, it is likely to grow.
Alternatively: the price may slide to the target level of 1.1455 – the Fibonacci level of 61.8% (yellow dotted line) from 1.1530 (the closing of yesterday's daily candlestick). When testing this level, the pair could advance.
