Trend analysis (Fig. 1).
On Friday, the downward movement is possible to continue, with the target of 1.1065 - the support line. The probability of breaking down the line is high and then the next target 1.1028 is the lower fractal.
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:
On Friday, a downward movement is possible.
An unlikely scenario is an upward movement with the target of 1.10114 - the upper fractal.
The material has been provided by InstaForex Company - www.instaforex.com