Trend analysis (Fig. 1).
Today, the market may continue to move downward from the level of 1.2121 (closing of Friday's daily candlestick), with the first lower target – a pullback level of 14.6%, 1.2093 (red dotted line). If this line is tested, we can expect the continuation of the upper work with the target of 1.2177 - the resistance level (blue bold line).
Figure 1 (Daily Chart).
Comprehensive analysis:
Indicator analysis - downFibonacci levels - downVolumes - downCandlestick analysis - downTrend analysis - downBollinger bands - downWeekly chart - downGeneral conclusion:
Today, the price may continue to move downward with the target of the pullback level of 14.6%, 1.2093 (red dotted line). If this line is tested, we can expect the continuation of the upper work with the target of 1.2177 - the resistance level (blue bold line).
Alternative scenario: from the level of 1.2121 (closing of the Friday daily candlestick), the pair may work downward in order to reach the pullback level of 14.6%, 1.2093 (red dotted line). If this line is tested, we can expect the lower work to continue with the target of 1.2072 - the historical support level (blue dotted line).