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Trend Analysis (Fig. 1)
On Thursday, from the level of 1.1658 (yesterday's daily close), the market may continue to move upward, targeting 1.1700 – the 38.2% retracement level (red dotted line). Upon testing this level, the price may pull back downward toward 1.1672 – the 50% retracement level (red dotted line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
Overall Conclusion: Upward trend
Alternative Scenario:On Thursday, from the level of 1.1658 (yesterday's daily close), the market may continue moving upward toward 1.1700 – the 38.2% retracement level (red dotted line). If this level is tested, the price may continue rising toward 1.1734 – the 23.6% retracement level (red dotted 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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