Trend analysis (Fig. 1).
The market may move downward from the level of 1.0847 (closing of Friday's daily candle) with the target of 1.0805, the 50% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0847, the lower fractal (daily candle from 05/12/2023).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger bands - down;
- Weekly chart - down.
General conclusion:
Today, the price may move downward from the level of 1.0847 (closing of Friday's daily candle) with the target of 1.0805, the 50% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0847, the lower fractal (daily candle from 05/12/2023).
Alternatively, the price may move upward from the level of 1.0847 (closing of Friday's daily candle) with the target of 1.0905, the 23.6% pullback level (red dotted line). When testing this level, a continued upward movement is possible with the target of 1.0930, the historical resistance level (blue dotted line).
