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Trend Analysis (Fig. 1)
On Thursday, the market may begin moving upward from the 1.3055 level (yesterday's daily candle close), targeting 1.3077 — the 176.4% target level (red dotted line). From this level, the price may possibly pull back downward, aiming for 1.3057 — the 185.4% target level (red dotted line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
Overall conclusion: upward trend.
Alternative scenario: From the 1.3055 level (yesterday's daily candle close), the price may continue moving downward, targeting 1.3043 — the historical support level (light blue dotted line). From this level, the price may possibly bounce upward, targeting 1.3077 — the 176.4% target level (red dotted 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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