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Trend Analysis (Fig. 1).
On Tuesday, from the level of 1.3482 (yesterday's daily candle close), the market may begin moving downward toward the target of 1.3417 – the 23.6% retracement level (blue dotted line). Upon testing this level, the price may possibly start moving upward, targeting the 50% retracement level at 1.3432 (yellow dotted line).
Fig. 1 (Daily Chart).
Comprehensive Analysis:
General conclusion: Downward trend.
Alternative scenario: From the level of 1.3482 (yesterday's daily candle close), the price may begin moving downward toward the target of 1.3425 – the 76.4% retracement level (red dotted line). Upon testing this line, the price may possibly start moving upward, targeting the 50% retracement level at 1.3432 (yellow dotted line).
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