Trend Analysis (Fig. 1).
On Friday, from the level of 1.1682 (yesterday's daily close), the market may begin moving down with a target of 1.1647 – the 21-day EMA (thin black line). When testing this line, a corrective upward move is possible with a target of 1.1697 – the 76.4% retracement level (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive Analysis:
Indicator analysis – down;Fibonacci levels – down;Volumes – down;Candlestick analysis – down;Trend analysis – down;Bollinger Bands – down;Weekly chart – up.General conclusion: bearish trend.
Alternative scenario: Today, from the level of 1.1682 (yesterday's daily close), the price may start moving down with a target of 1.1640 – the 61.8% retracement level (yellow dotted line). When testing this level, a corrective upward move is possible with a target of 1.1697 – the 76.4% retracement level (yellow dotted line).