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Trend Analysis (Fig. 1).
On Tuesday, from the 1.3500 level (closing price of yesterday's daily candle), the market may continue moving downward toward 1.3451 – the 21-day EMA (thin black line). Upon testing this line, the price may begin to move upward, aiming for 1.3481 – the 76.4% retracement level (red dashed line).
Comprehensive Analysis:
Overall conclusion: bearish trend.
Alternative scenario: From the 1.3500 level (closing price of yesterday's daily candle), the price may continue moving downward toward 1.3416 – the 61.8% retracement level (red dashed line). Upon testing this level, the price may begin to move upward, aiming for 1.3451 – the 21-day EMA (thin black line).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
