Trend Analysis (Fig. 1)

On Wednesday, the market may begin moving down from the 1.1581 level (yesterday's daily candle close) toward the target of 1.1568 — the 13-day EMA (yellow thin line). When testing this line, the price may possibly rebound upward toward 1.1608 — a historical support level (blue dashed line).

Fig. 1 (Daily Chart)

Comprehensive Analysis

• Indicator analysis – upward;
• Fibonacci levels – upward;
• Volume – downward;
• Candlestick analysis – upward;
• Trend analysis – upward;
• Bollinger Bands – upward;
• Weekly chart – upward.

General conclusion: upward trend.

Alternative Scenario

From the 1.1581 level (yesterday's daily candle close), the price may start moving down toward 1.1568 — the 13-day EMA (yellow thin line). When testing this line, the price may possibly rebound upward toward 1.1640 — the 38.2% retracement level (yellow dashed line).