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Trend Analysis (Fig. 1).
On Tuesday, from the level of 1.3449 (yesterday's daily close), the market may continue moving downward toward 1.3405 – the historical support level (blue dotted line). Upon testing this level, the price may begin moving upward toward 1.3420 – the 38.2% retracement level (yellow dotted line).
Comprehensive Analysis:
General Conclusion: Downward trend.
Alternative Scenario: From the level of 1.3449 (yesterday's daily close), the price may continue moving downward toward 1.3363 – the 50% retracement level (red dotted line). Upon testing this level, the price may then begin moving upward toward 1.3405 – the historical support level (blue dotted 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.
