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Trend Analysis (Fig. 1)
On Wednesday, from the 1.3296 level (yesterday's daily candle close), the market may continue moving upward toward the target at 1.3338 — the 38.2% retracement level (red dashed line). If this level is tested, the price may continue its upward movement toward the 1.3364 target — the upper fractal (blue dashed line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
Overall conclusion: upward trend.
Alternative scenario: On Wednesday, from the 1.3296 level (yesterday's daily candle close), the market may continue moving upward toward the 38.2% retracement level at 1.3338 (red dashed line). If this level is tested, the price may retrace downward toward the target of 1.3314 — the 8 EMA (thin blue line).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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