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Trend analysis (Fig. 1).
The euro-dollar pair may move down from the level of 1.0735 (close of yesterday's daily candle) to the target of 1.0690, the 14.6% retracement level (yellow dotted line). After testing this level, the price may continue to move downward with the target of 1.0654, the 23.6% retracement level (yellow dotted line). Upon reaching this level, the price may move up.
Fig. 1 (daily chart).
Comprehensive analysis:
Today, the price may move down from the level of 1.0735 (close of yesterday's daily candle) to the target of 1.0690, the 14.6% retracement level (yellow dotted line). After testing this level, the price may continue to move downward with the target of 1.0654, the 23.6% retracement level (yellow dotted line). Upon reaching this level, the price may move up.
Alternative scenario: from the level of 1.0735 (close of yesterday's daily candle), the price may move downward with the target of 1.0690, the 14.6% retracement level (yellow dotted line). After testing this level, the price may move upward to the upper fractal at 1.0748 (yellow 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.