Trend Analysis (Fig. 1)
On Monday, the market may start moving down from the 1.1718 level (Friday's daily close), targeting 1.1674 — the 23.6% retracement level (yellow dashed line). Upon reaching this level, a corrective upward movement is possible, targeting 1.1700 — the 14.6% retracement level (yellow dashed line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
- Indicator analysis – downward
- Fibonacci levels – downward
- Volume – downward
- Candlestick analysis – downward
- Trend analysis – upward
- Bollinger Bands – downward
- Weekly chart – downward
Overall conclusion: bearish trend
Alternative scenario: From the 1.1718 level (Friday's daily close), the price may start moving downward toward the 1.1674 level — the 38.2% retracement level (yellow dashed line). Upon reaching this level, a corrective upward move is possible, targeting 1.1674 — the 23.6% retracement level (yellow dashed line).
