Trend analysis (Fig. 1)

On Wednesday, from the 1.1814 level (yesterday's daily close), the market may start moving downward, targeting 1.1751 – the 76.4% retracement level (red dotted line). Upon testing this level, the price may rebound upward, targeting 1.1762 – the 85.4% retracement level (red 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: From the 1.1814 level (yesterday's daily close), the price may begin to move downward, targeting 1.1734 – the 61.8% retracement level (red dotted line). Upon testing this level, the price may rebound upward, targeting 1.1751 – the 76.4% retracement level (red dotted line).