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Trend analysis (Fig. 1).
Today, the market from the level of 1.4101 (closing of yesterday's daily candlestick) will try to continue moving downward with the target of 1.4025 - the 38.2% retracement level (red dotted line). Upon reaching this level, the price may start moving upwards with the target of 1.4092 - the 76.4% retracement level (blue dashed line).
Figure 1 (Daily Chart).
Comprehensive analysis:
General conclusion:
Today the price from the level of 1.4101 (closing of yesterday's daily candlestick) will try to continue moving downward with the target of 1.4025 - the 38.2% retracement level (red dotted line). Upon reaching this level, the price may start moving upwards with the target of 1.4092 - the 76.4% retracement level (blue dashed line).
Alternative scenario: from the level of 1.4101 (closing of yesterday's daily candlestick), it will try to start moving upwards with the target of 1.4142 - the 85.4% retracement level (blue dashed line). Upon reaching this level, the price may continue to move upward with the target at 1.4217 - the historical resistance level (blue dotted line).
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