Trend Analysis (Fig. 1)
On Friday, the market may continue moving downward from the 1.1569 level (the closing price of yesterday's daily candle) toward the 1.1542 target — the lower fractal (yellow dotted line). Upon testing this level, a pullback movement upward toward 1.1556 is possible — a historical resistance level (blue dotted line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
- Indicator analysis – downward
- Fibonacci levels – downward
- Volumes – downward
- Candlestick analysis – downward
- Trend analysis – downward
- Bollinger Bands – downward
- Weekly chart – upward
Overall conclusion: Downward trend.
Alternative scenario:Today, from the 1.1569 level (closing price of yesterday's daily candle), the price may start moving downward toward 1.1516 — the 76.4% retracement level (blue dotted line). Upon testing this level, a pullback upward movement toward 1.1542 — the lower fractal (yellow dotted line) — is possible.
