Trend analysis (Fig. 1)
On Wednesday, from the 1.3521 level (yesterday's daily close), the market may begin moving downward, targeting 1.3440 – the 50% retracement level (blue dotted line). Upon testing this level, the price may rebound upward, targeting 1.3465 – the 61.8% retracement level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – downward;
- Fibonacci levels – downward;
- Volumes – downward;
- Candlestick analysis – downward;
- Trend analysis – downward;
- Bollinger Bands – downward;
- Weekly chart – downward.
Overall conclusion: downward trend.
Alternative scenario: On Wednesday, from the 1.3521 level (yesterday's daily close), the market may begin moving downward, targeting 1.3465 – the 61.8% retracement level (blue dotted line). Upon testing this level, the price may rebound upward, targeting 1.3482 – the 61.8% retracement level (red dotted line).
