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08.08.2025 10:57 AMTrend analysis (Fig. 1).
On Friday, from the level of 1.3440 (yesterday's daily candle close), the market may start moving downward toward 1.3378 — the 23.6% retracement level (yellow dashed line). Upon testing this level, the price may move upward toward 1.3452 — the upper fractal (yellow dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
Overall conclusion: Downward trend.
Alternative scenario: From the level of 1.3440 (yesterday's daily candle close), the price may continue moving downward toward 1.3406 — the 14.6% retracement level (yellow dashed line). Upon testing this level, the price may move upward toward 1.3452 — the upper fractal (yellow 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.
