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05.08.2025 10:31 AMTrend Analysis (Fig. 1)
On Tuesday, the market may continue moving downward from the level of 1.1570 (closing of yesterday's daily candle), targeting 1.1549 – the 38.2% retracement level (yellow dashed line). Upon testing this level, the price may rebound upward toward the 76.4% retracement level at 1.1611 (red dashed line).
Fig. 1 (Daily Chart)
Comprehensive Analysis:
Overall conclusion: Downward trend.
Alternative Scenario: The price may continue moving downward from the level of 1.1570 (closing of yesterday's daily candle) toward 1.1519 – the lower fractal (daily candle of July 29, 2025). Upon testing this level, the price may rebound upward toward the 76.4% retracement level at 1.1611 (red dashed line).
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
