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Trend analysis (Fig. 1).
Today, the market from the level of 1.4115 (closing of yesterday's daily candlestick) may continue to move down with the target of 1.4099 - a 23.6% retracement level (red dotted line). Upon testing this level, it is possible to start working upward with the target at 1.4145 - the 85.4% retracement level (blue dashed line). And then, after reaching this level, the upward movement may continue with the target of 1.4232 - the upper fractal (red dotted line).
Figure 1 (Daily Chart).
Comprehensive analysis:
General conclusion:
Today, the price from the level of 1.4115 (closing of yesterday's daily candlestick) may continue to move down with the target of 1.4099 - a 23.6% retracement level (red dotted line). Upon testing this level, it is possible to start working upward with the target at 1.4145 - the 85.4% retracement level (blue dashed line). And then, after reaching this level, the upward movement may continue with the target of 1.4232 - the upper fractal (red dotted line).
Unlikely scenario: from the level of 1.4115 (closing of yesterday's daily candlestick), it may continue to move downward with the target of 1.4090 - 21 EMA (black thin line). Once this line is tested, it is possible to start working upwards with the target of 1.4145 - the 85.4% retracement level (blue dashed line).
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