Trend analysis (Fig. 1)
On Monday, the pair is likely to go down from 1.2834 (the close price of the daily candlestick on Friday) to the target at the 76.4% retracement level of 1.2786 (the red dotted line). In the case of a test of this mark, the price may continue rising to the upper Bolonger band at 1.2937 (the black dotted line) and then pull back.
Fig. 1 (daily chart)
Complex analysis:
- indicator analysis - up
- Fibonacci levels - up
- volumes - up
- candlestick analysis - up
- trend analysis - up
- Bollinger bands - up
- weekly chart - up
Conclusion:
Today, the pair is likely to go down from 1.2834 (the close price of the daily candlestick on Friday) to the target at the 76.4% retracement level of 1.2786 (the red dotted line). In the case of a test of this mark, the price may continue rising to the upper Bolonger band at 1.2937 (the black dotted line) and then pull back.
Alternative scenario: the pair may go down from 1.2834 (the close price of the daily candlestick on Friday) to the target at the 76.4% retracement level of 1.2786 (the red dotted line). The upward movement to the 161.8% retracement level of 1.3005 (the red dotted line) may extend after a test of this level. A pullback may follow afterward.
