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Trend Analysis (Figure 1)
On Thursday, from the level of 1.0483 (yesterday's daily close), the market may continue its downward movement, targeting 1.0453 – the 23.6% retracement level (red dashed line). From this level, the price could rebound upward towards 1.0496 – a historical support level (blue dashed line).
Comprehensive Analysis Summary:
Alternative Scenario
On Thursday, from the 1.0483 level (yesterday's daily close), the market may initiate a downward move targeting 1.0438 – the 21-day EMA (thin black line). From this level, the price could reverse upward toward 1.0481 – the 14.6% 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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