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Trend Analysis (Fig. 1)
On Thursday, from the level of 1.3571 (yesterday's daily close), the market may continue moving upward toward the target of 1.3587 – the upper fractal (red dashed line). From this level, the price may reverse downward toward the target of 1.3522 – the 85.4% retracement level (red dashed line).
Fig. 1 (daily chart)
Comprehensive Analysis:
Overall conclusion: Downtrend.
Alternative scenario: From the level of 1.3571 (yesterday's daily close), the price may continue moving upward toward 1.3587 – the upper fractal (red dashed line). From this level, the price may reverse downward toward 1.3482 – the 76.4% retracement level (red dashed 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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