The price on Friday rally down worked out the top. Bears were fixing profits, and the market broke off the support line 1.1248 (red thick line). On Monday, there is no strong calendar news. Most likely, the bears once again try to resume movement down.
Trend analysis (Fig. 1).
On Monday, the price will move downward with the first target 1.2751 - the support line (red thick line).
Fig. 1 (daily schedule).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - neutral;
- volumes - down;
- candlestick analysis is neutral;
- trend analysis - up;
- Bollinger lines - up;
- weekly schedule - up.
General conclusion:
On Monday, the price will move downward with the first target 1.2751 - the support line (red thick line).
The material has been provided by InstaForex Company - www.instaforex.com