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Trend Analysis (Fig. 1)
On Monday, EUR/USD may continue the downward movement from the 1.0882 level (the close of Friday's daily candle) with a target of 1.0863 – the 13 EMA (yellow thin line). Upon reaching this line, the price may rise with the target of the retracement level of 23.6% at 1.0881 (red dotted line).
Fig. 1 (daily chart)
Comprehensive Analysis:
General Conclusion:
Today, EUR/USD may continue the downward movement from the 1.0882 level (the close of Friday's daily candle) with a target of 1.0863 – the 13 EMA (yellow thin line). Upon reaching this line, an upward movement is possible with the target of the retracement level of 23.6% at 1.0881 (red dotted line).
Alternative Scenario: The price could start rising from the 1.0882 level (the close of Friday's daily candle) with a target of 1.0906 – the 14.6% retracement 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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