Trend Analysis (Fig. 1)On Friday, from the 1.1617 level (yesterday's daily candle close), the market may start moving downward toward the target of 1.1576 — the lower fractal (daily candle from October 22, 2025). When testing this level, a corrective upward price movement is possible, targeting 1.1593 — the 61.8% retracement level (blue dashed line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
Indicator analysis — down
Fibonacci levels — down
Volume — down
Candlestick analysis — down
Trend analysis — down
Bollinger Bands — down
Weekly chart — up
Overall conclusion: Downward trend.
Alternative Scenario:
Today, from the 1.1617 level (yesterday's daily candle close), the price may begin moving downward toward 1.1556 — a historical support level (blue dashed line). When testing this level, a corrective upward price movement is possible, targeting 1.1576 — the lower fractal (daily candle from October 22, 2025).
The material has been provided by InstaForex Company - www.instaforex.com
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Fig. 1 (Daily Chart)
Comprehensive Analysis:
Overall conclusion: Downward trend.
Alternative Scenario:
Today, from the 1.1617 level (yesterday's daily candle close), the price may begin moving downward toward 1.1556 — a historical support level (blue dashed line). When testing this level, a corrective upward price movement is possible, targeting 1.1576 — the lower fractal (daily candle from October 22, 2025).
The material has been provided by InstaForex Company - www.instaforex.com