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Trend Analysis (Fig. 1).
On Tuesday, from the level of 1.3510 (yesterday's daily close), the market may start moving downward with a target of 1.3465 – the 61.8% retracement level (blue dotted line). Upon testing this level, the price may then move upward toward 1.3482 – the 61.8% retracement level (red dotted line).
Fig. 1 (daily chart).
Comprehensive Analysis:
Overall conclusion: downward trend.
Alternative scenario: from the level of 1.3510 (yesterday's daily close), the price may start moving downward with a target of 1.3440 – the 50% retracement level (blue dotted line). Upon testing this level, the price may then move upward toward 1.3465 – the 61.8% retracement 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.
