Trend analysis (Fig. 1).
On Monday, the price will move up, with the first target 1.2827 - pullback level 23.6% (red dashed line), if this level is reached, resume work down, with the lower target 1.2610 - pullback level 38.2% (blue dashed line) .
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger Lines - down;
- Weekly schedule - down.
General conclusion:
On Monday, the price may start to move up.
The upper target 1.2827 is a retracement level of 23.6% (red dashed line), if this level is reached, resume work down, with the lower target 1.2610 - a retracement level of 38.2% (blue dashed line).
An unlikely scenario - immediately moving down with a target of 1.3168 - retracement level of 38.2% (blue dashed line).
The material has been provided by InstaForex Company - www.instaforex.com