Trend analysis (Fig. 1).
Today, the market from the level of 1.3685 (closing of yesterday's daily candle) may continue to move down with the target of 1.3621 - the 21 period EMA (black thin line). When testing this line, it is possible to continue moving upward with a target of 1.3743 - the upper fractal (red dotted line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - down
- Fibonacci levels - down
- Volumes - down
- Candlestick analysis - down
- Trend analysis - down
- Bollinger bands - up
- Weekly chart - down
General conclusion:
Today, the price from the level of 1.3685 (closing of yesterday's daily candle) may continue to move down with the target of 1.3621 - the 21 period EMA (black thin line). When testing this line, it is possible to continue moving upward with a target of 1.3743 - the upper fractal (red dotted line).
Alternative scenario: from the level of 1.3652 (closing of yesterday's daily candle), the pair may continue to move downward with a target of 1.3621 - the 21 period EMA (black thin line). When testing this line, it is likely to continue moving downward with a target of 1.3519 - the lower fractal (daily candle from 01/18/2021).
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