Trend analysis (Fig. 1).
On Thursday, the market from the level of 1.2011 (the closing of yesterday's daily candle) may continue to move down with the target of 1.1975 - the 50.0% retracement level (the red dotted line). When testing this level, it is possible to continue working downwards with the target of 1.1887 - the support line (white thin line).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - down
- Fibonacci levels - down
- Volumes - down
- Candlestick analysis - down
- Trend analysis - down
- Bollinger bands - down
- Weekly chart - down
General conclusion:
Today, the market from the level of 1.2011 (the closing of yesterday's daily candle) may continue to move down with the target of 1.1975 - the 50.0% retracement level (the red dotted line). When testing this level, it is possible to continue working downwards with the target of 1.1887 - the support line (white thin line).
Alternative scenario: from the level of 1.2011 (the closing of yesterday's daily candle), the price may continue to move down with the target of 1.1975 - the 50.0% retracement level (red dotted line). When testing this level, it is possible to work up with the target of 1.2102 - the 76.4% retracement level (yellow dotted line).
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