Trend analysis (Fig. 1).
Today, an upward pullback is possible from the level of 1.1376 (closing of yesterday's candle) with the target of 1.1308 - a 14.6% retracement level (red dashed line). There is a possibility that from this level the price may continue to move downward with the next target of 1.1238 - a 23.6% retracement level (red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger Lines - down;
- Weekly schedule - down.
General conclusion:
Today, the price may begin to move downward from the level of 1.1376 (closing of yesterday's candle) with the target of 1.1308 - a 14.6% retracement level (red dashed line). There is a possibility that from this level, the price may continue to move downward with the next target of 1.1238 - a 23.6% retracement level (red dashed line).
Another possible scenario is an upward trend after reaching the lower pullback level of 14.6% equivalent to 1.1308 (red dashed line) with the target at the upper fractal 1.1423 (blue dashed line).
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