Trend analysis (Fig. 1).
On Wednesday, the price may begin to move down, with the target of 1.2197 - a pullback level of 38.2% (blue dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - down;
- trend analysis - down;
- Bollinger Lines - up;
- weekly schedule - down.
General conclusion:
On Wednesday, the price may continue to move down.
An unlikely scenario is an upward movement with a break through of the resistance line 1.2299 (red bold line).
The material has been provided by InstaForex Company - www.instaforex.com