Trend analysis (Fig. 1).
The breakdown of the support line is unlikely. After testing this line, a pullback is possible with the first target 1.1116 - a pullback level of 14.6% (yellow dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger Lines - down;
- weekly schedule - down.
General conclusion: up.
Low probability scenario - the downward movement will continue with the first target 1.1028 - the lower fractal.
The material has been provided by InstaForex Company - www.instaforex.com