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 – down
• Fibonacci levels – down
• Volumes – down
• Candlestick analysis – down
• Trend analysis – down
• Bollinger Bands – down
• Weekly chart – down

Overall 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).