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Trend analysis (Fig. 1).
The euro-dollar pair may move down from the level of 1.0547 (close of yesterday's daily candle) with the target of 1.0481, the 38.2% retracement level (yellow dotted line). After testing this level, the price may move upward with the target of 1.0572, the 76.4% retracement level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Today the price may move down from the level of 1.0547 (close of yesterday's daily candle) with the target of 1.0481, the 38.2% retracement level (yellow dotted line). After testing this level, the price may move upward with the target of 1.0572, the 76.4% retracement level (red dotted line).
Alternative scenario: from the level of 1.0547 (close of yesterday's daily candle), the price may move down with the target of 1.0513, the 23.6% retracement level (yellow dotted line). After testing this level, the price may move up with the target of 1.0572, the 76.4% retracement level (red dotted line).InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.