Trend analysis (Fig. 1).
On Friday, before the news, the price will move down to the side channel. After working out the news - (according to the forecast - upward movement), the downward trend will continue with the first target of 1.1233 - a pullback level of 38.2% (yellow dashed line). Much will depend on the news that comes out at 12.30 Universal time.
Fig. 1 (daily schedule).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - up;
- candlestick analysis - down;
- trend analysis - up;
- Bollinger lines - up;
- weekly schedule - up.
General conclusion:
On Friday, before the news, the price will move down to the side channel. After working out the news - (according to the forecast - upward movement), the downward trend will continue with the first target of 1.1233 - a pullback level of 38.2% (yellow dashed line). Much will depend on the news that comes out at 12.30 Universal time.
The material has been provided by InstaForex Company - www.instaforex.com