Trend analysis (Fig. 1).
The market may move upward from the level of 1.2443 (closing of Friday's daily candle) with the target of 1.2510, the 50.0% pullback level (blue dotted line). From here, a downward movement is possible with the target of 1.2471, the 61.8% pullback 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 - down;
- Weekly chart - down.
General conclusion:
Today, the price may move upward from the level of 1.2443 (closing of Friday's daily candle) with the target of 1.2510, the 50.0% pullback level (blue dotted line). From here, a downward movement is possible with the target of 1.2471, the 61.8% pullback level (blue dotted line).
Alternatively, the price may move downward from the level of 1.2443 (closing of Friday's daily candle) with the target of 1.2422, the 76.4% pullback level (blue dotted line). From here, an upward movement is possible to the support at 1.2443 (thick white line).
