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Trend Analysis (Fig. 1).
On Wednesday, the market from the level of 1.1732 (yesterday's daily candle close) may continue moving upward with the target at 1.1782 – the 50% retracement level (red dashed line). When testing this level, the price may possibly roll back downward with the target at 1.1710 – the 23.6% retracement level (red dashed line).
Fig. 1 (daily chart).
Comprehensive Analysis:
General conclusion: upward trend.
Alternative scenario: from the level of 1.1732 (yesterday's daily candle close), the price may continue moving upward with the target at 1.1794 – the 23.6% retracement level (blue dashed line). When testing this level, the price may roll back downward with the target at 1.1710 – the 23.6% 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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