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Trend Analysis (Fig. 1).
On Wednesday, the market may begin moving upward from the 1.3141 level (yesterday's daily candle close), targeting 1.3194 — the 21-period EMA (thin black line). When testing this line, the price may pull back downward toward 1.3178 — the 23.6% retracement level (blue dashed line).
Figure 1 (daily chart).
Comprehensive Analysis:
Overall conclusion: an upward trend.
Alternative scenario: On Wednesday, the market may begin moving upward from the 1.3141 level (yesterday's daily candle close), targeting 1.3232 — a historical resistance level (blue dashed line). When testing this line, the price may pull back downward toward 1.3194 — the 21-period EMA (thin black 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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