Trend Analysis (Fig. 1)
On Thursday, from the level of 1.1670 (yesterday's daily candle close), the market may begin moving downward toward the target of 1.1640 — the 38.2% retracement level (yellow dashed line). When testing this level, the price may pull back upward toward the target of 1.1655 — the 50% retracement level (blue dashed line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
Indicator analysis – downFibonacci levels – downVolumes – downCandlestick analysis – downTrend analysis – downBollinger Bands – downWeekly chart – downOverall Conclusion: A downward trend.
Alternative Scenario:On Thursday, from the level of 1.1670 (yesterday's daily candle close), the market may begin moving downward toward the target of 1.1619 — the 8-period EMA (thin blue line). When testing this line, the price may pull back upward toward the target of 1.1640 — the 38.2% retracement level (yellow dashed line).