Trend analysis (Fig. 1).
The market may move downward from the level of 1.2438 (closing of Friday's daily candle) with the target at 1.2370, the 85.4% pullback level (blue dotted line). When this level is reached, the price may move upward with the target at 1.2460, the historical resistance level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - down.
General conclusion:
Today, the price may move downward from the level of 1.2438 (closing of Friday's daily candle) with the target at 1.2370, the 85.4% pullback level (blue dotted line). When this level is reached, the price may move upward with the target at 1.2460, the historical resistance level (blue dotted line).
Alternatively, the price may move downward from the level of 1.2438 (closing of Friday's daily candle) with the target at 1.2342, the lower fractal (blue dotted line). When this level is reached, the price may move upward with the target at 1.2437, the 85.4% pullback level (yellow dotted line).
