Trend analysis (Fig. 1).
The market may move down on Thursday from the level of 1.3553 (closing of yesterday's daily candle) to the target level of 1.3495, the 23.6% retracement level (red dotted line). When testing this level, the downward movement may continue to the target level of 1.3432, the 38.2% retracement level (red dotted line).
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly chart - up.
General conclusion:
The price may move down from the level of 1.3553 (closing of yesterday's daily candle) to the target level of 1.3495, the 23.6% retracement level (red dotted line). When testing this level, the downward movement may continue to the target level of 1.3432, the 38.2% retracement level (red dashed line).
Alternative scenario: from the level of 1.3553 (closing of yesterday's daily candle), the price may move down to the target level of 1.3495, the 23.6% retracement level (red dotted line). When testing this level, the price may move upward to the resistance level of 1.3592 (yellow bold line).
