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Trend Analysis (Fig. 1)
On Wednesday, from the level of 1.3367 (yesterday's daily candle close), the market may continue moving downward toward the target of 1.3322 – the lower fractal (blue dashed line). Upon testing this level, the price may rebound upward toward 1.3363, the 61.8% retracement level (yellow dashed line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
Overall conclusion: Downward trend.
Alternative Scenario: On Wednesday, from the level of 1.3367 (yesterday's daily candle close), the market may continue moving downward toward 1.3332 – the lower fractal (red dashed line). Upon testing this level, the price may rebound upward toward 1.3381, the 14.6% retracement level (blue dashed 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.
