On Thursday, from the 1.3622 level (yesterday's daily candle close), the market may continue moving downward toward the target of 1.3548 – upper fractal (red dotted line). From this level, the price may rebound upward toward 1.3583 – the 8 EMA (thin blue 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.
General conclusion: bearish trend.
Alternative scenario: from the 1.3622 level (yesterday's daily candle close), the price may start moving downward toward 1.3583 – the 8 EMA (thin blue line). From this line, the price may rebound upward toward 1.3593 – upper fractal (yellow dotted line).
The material has been provided by InstaForex Company - www.instaforex.com
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Trend analysis (Fig. 1).
On Thursday, from the 1.3622 level (yesterday's daily candle close), the market may continue moving downward toward the target of 1.3548 – upper fractal (red dotted line). From this level, the price may rebound upward toward 1.3583 – the 8 EMA (thin blue line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion: bearish trend.
Alternative scenario: from the 1.3622 level (yesterday's daily candle close), the price may start moving downward toward 1.3583 – the 8 EMA (thin blue line). From this line, the price may rebound upward toward 1.3593 – upper fractal (yellow dotted line).
The material has been provided by InstaForex Company - www.instaforex.com