Trend analysis (Fig. 1).
The market may move downward from the level of 1.2421 (closing of yesterday's daily candle) with the target at 1.2373, the 85.4% pullback level (blue dotted line). In the case of testing this level, the price may move upward with the target at 1.2449, the upper fractal (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Weekly chart - down;
- Bollinger Bands - up.
General conclusion:
Today the price may move downward from the level of 1.2421 (closing of yesterday's daily candle) with the target at 1.2373, the 85.4% pullback level (blue dotted line). In the case of testing this level, the price may move upward with the target at 1.2449, the upper fractal (blue dotted line).
Alternatively, the price may move downward from the level of 1.2421 (closing of yesterday's daily candle) to 1.2343, the lower fractal (blue dotted line). In the case of testing this level, the price may move upward with the target at 1.2449, the upper fractal (blue dotted line).
