Trend analysis (Fig. 1).
The market may move downward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2387, the 61.8% pullback level (blue dotted line). In the case of testing this level, the price may move upward with the target of 1.2448, the 38.2% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Weekly chart - down;
- Bollinger bands - down.
General conclusion:
Today, the price may move downward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2387, the 61.8% pullback level (blue dotted line). In the case of testing this level, the price may move upward with the target of 1.2448, the 38.2% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2362, the 76.4% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible with the target of 1.2448, the 38.2% pullback level (red dotted line).
