Trend analysis (Fig. 1).
On Monday, the market may begin to slide backward, with the target of 1.1041 - a retracement level of 14.6% (blue dashed line). If this level is reached, it is possible to continue the upper pullback to 1.1057 - a pullback level of 23.6% (blue dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger Lines - up;
- Weekly schedule - down.
General conclusion:
On Monday, upward movement is possible.
The upper target 1.1041 is a retracement level of 14.6% (blue dashed line). If this level is reached, it is possible to continue the upper pullback to 1.1057 - a pullback level of 23.6% (blue dashed line).
An unlikely scenario is the continuation of the downward movement with the target of 1.0995 - a retracement level of 61.6% (red dashed line).
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