Trend analysis (Fig. 1).
On Thursday, the downward movement may continue to the level of support (blue bold line), but much will depend on the mood of the market and its reaction to interest rates. We are waiting to reach the level of 1.1116 and look at the market. When working upwards from this level, a rebound level of 14.6% - 1.1140 (yellow dashed line) is reached. When working down from this level, target 1.1043 is the target level of 261.8% (blue dashed line).
Fig. 1 (daily schedule).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
trend analysis - down;
- Bollinger lines - down;
- weekly schedule - down.
General conclusion:
On Thursday, the downward movement may continue to the level of support (blue bold line), but much will depend on the mood of the market and its reaction to interest rates. We are waiting to reach the level of 1.1116 and look at the market. When working upwards from this level, a rebound level of 14.6% - 1.1140 (yellow dashed line) is reached. When working down from this level, target 1.1043 is the target level of 261.8% (blue dashed line).