On Tuesday, the price moves up, testing the rolling level of 61.8% at 1.3042 (blue dashed line). On Wednesday, a strong calendar news is expected at 8.30 and 12.30 London time. There will most likely be a downward lateral movement.
Trend analysis (Fig. 1).
On Wednesday, the price will move downwards with the first goal at the rolling level of 50.0% at 1.2938 (blue thin line).
Fig. 1 (daily schedule).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - down;
- weekly chart - down.
General conclusion:
On Wednesday, the price will move downwards with the first goal at the rolling level of 50.0% at 1.2938 (blue thin line).
The material has been provided by InstaForex Company - www.instaforex.com