Trend analysis (Fig. 1)
On Friday, the price may go down from 1.1225 (the close price of yesterday's daily candlestick) to the 14.5% retracement level of 1.1183 (red dotted line). In case the price tests this level, it may then go up.
Fig. 1 (daily chart)
Complex analysis:
- indicator analysis - down
- Fibonacci levels - down
- candlestick analysis - down
- trend analysis - up
- Bollinger bands - down
- weekly chart - up
Conclusion:
Today, the price may go down from 1.1225 (the close price of yesterday's daily candlestick) to the 14.5% retracement level of 1.1183 (red dotted line). In case the price tests this level, it may then go up.
Alternative scenario: the price may go down from 1.1225 (the close price of yesterday's daily candlestick) to the 23.6% retracement level of 1.1146 (red dotted line). In case the price tests this level, it may then go up.
