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Trend analysis (Fig. 1).
Today, the market will try to go up from the level of 1.1673 (closing of yesterday's daily candle) with the target of 1.1702 - the retracement level of 23.6% (blue dotted line). In case of testing this level, there will be a work up to the level of 1.1760 - the retracement level of 38.2% (blue dotted line).
Figure: 1 (daily chart).
Comprehensive Analysis:
General conclusion:
Today, the price will try to go up from the level of 1.1673 (closing of yesterday's daily candle) with the goal of 1.1702 - a pullback level of 23.6% (blue dotted line). If this level is tested, there will be a work up to the level of 1.1760 - a pullback level of 38.2% (blue dotted line).
Alternative scenario: from the level of 1.1673 (closing of yesterday's daily candle), it may continue to go down with the goal of 1.1651 - a pullback level of 85.4% (red dotted line). If this level is tested, there will be a work down to the level of 1.1612 - the lower fractal (candle from 09/25/2020).
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