Trend analysis (Fig. 1).
On Friday, the price may continue to roll back, with the target of 1.2202 – 21 middle line (black thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - up;
- volumes - down;
- candlestick analysis - neutral;
- trend analysis - up;
- Bollinger Lines - up;
- weekly schedule - down.
General conclusion:
On Friday, the price may move down.
An unlikely scenario is an upward movement with the target 1.2230 – resistance line (red bold line).
The material has been provided by InstaForex Company - www.instaforex.com