On Thursday, the market may start moving downward from the 1.2959 level (yesterday's daily close) toward 1.2924 – the 14.6% retracement level (yellow dashed line). From this level, the price might rebound upwards toward 1.2988 – the upper fractal (blue dashed line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
Indicator Analysis: Bearish
Fibonacci Levels: Bearish
Volume Analysis: Bearish
Candlestick Analysis: Bearish
Trend Analysis: Bullish
Bollinger Bands: Bullish
Weekly Chart: Bearish
Overall Conclusion: Bearish trend.
Alternative Scenario:
The price could start moving downward from 1.2959 (yesterday's daily close) toward 1.2886 – the 23.6% retracement level (yellow dashed line). From this level, a potential upward correction to 1.2988 – the upper fractal (blue dashed line) may occur.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.