Trend analysis (Fig. 1).
Today, after reaching a retracement level of 61.8% - 1.1168 (red dashed line) the pair will try to move down with the first target of 1.1042, a retracement level of 23.6% (blue dashed line). If this level is reached further, down with the target of 1.0965, a pullback level of 38.2.% (Blue dashed line). From this level, the probability of an upward movement is high.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
Today, the price will try to roll back up.
An unlikely scenario: while moving downside, upon reaching a retracement level of 23.6% - 1.1042 (blue dashed line), the pair will move up, with a target of 1.1293, a retracement level of 76.4% (red dashed line).
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