Trend analysis (Fig. 1).
On Thursday, from the 1.1637 level (yesterday's daily close), the market may start moving downward, targeting 1.1594 – the 50% retracement level (yellow dotted line). Upon testing this level, the price may rebound upward, aiming for 1.1640 – the 61.8% retracement level (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – downward;Fibonacci levels – downward;Volumes – downward;Candlestick analysis – downward;Trend analysis – downward;Bollinger Bands – downward;Weekly chart – downward.Overall conclusion: downward trend.
Alternative scenario: On Thursday, from the 1.1637 level (yesterday's daily close), the market may start moving downward, targeting 1.1560 – the 50% retracement level (blue dotted line). Upon testing this level, the price may rebound upward, aiming for 1.1594 – the 50% retracement level (yellow dotted line).