Trend Analysis (Fig. 1).
On Tuesday, from the level of 1.1617 (yesterday's daily close), the market may continue moving downward toward the target at 1.1594 – the 50% retracement level (yellow dotted line). Upon testing this level, the price may bounce upward, aiming to retest the 38.2% retracement level at 1.1600 (blue dotted line).
Fig. 1 (daily chart).
Comprehensive Analysis:
- indicator analysis – downward;
- volumes – downward;
- candlestick analysis – downward;
- trend analysis – downward;
- Bollinger Bands – downward;
- weekly chart – downward.
General Conclusion: Downward trend.
Alternative Scenario: From the level of 1.1617 (yesterday's daily close), the price may continue moving downward toward 1.1560 – the 50% retracement level (blue dotted line). Upon testing this level, the price may bounce upward toward the 38.2% retracement level at 1.1600 (blue dotted line).
