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Trend analysis (Fig. 1).
The market may move downward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2387, the 61.8% pullback level (blue dotted line). In the case of testing this level, the price may move upward with the target of 1.2448, the 38.2% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2387, the 61.8% pullback level (blue dotted line). In the case of testing this level, the price may move upward with the target of 1.2448, the 38.2% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2420 (closing of yesterday's daily candle) to 1.2362, the 76.4% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible with the target of 1.2448, the 38.2% pullback level (red dotted line).
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