Trend Analysis (Fig. 1)
The market may move downward from the level of 1.2445 (closing of Friday's daily candle) with a target of 1.2425, the 50.0% pullback level (blue dotted line). Upon reaching this level, the price may move upward with a target of 1.2492, the 50.0% pullback level (red dotted line).
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 1.2445 (closing of Friday's daily candle) with a target of 1.2425, the 50.0% pullback level (blue dotted line). Upon reaching this level, the price may move upward with a target of 1.2492, the 50.0% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2445 (closing of Friday's daily candle) with a target of 1.2397, the 61.8% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with a target of 1.2492, the 50.0% pullback level (red dotted line).
