Trend Analysis (Figure 1)

On Thursday, the market may continue its downward movement from the 1.1639 level (yesterday's daily close), targeting 1.1560 – the 61.8% retracement level (red dashed line). Upon testing this level, the price may rebound upward toward 1.1588 – the 76.4% retracement level (red dashed line). Once this level is reached, a continued downward move is expected.

Figure 1 (daily chart)

Comprehensive Analysis:

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

Overall conclusion: a bearish trend.

Alternative scenario: On Thursday, the market may continue downward from the 1.1639 level (yesterday's daily close), targeting 1.1539 – the 50% retracement level (red dashed line). Upon testing this level, the price may rebound upward toward 1.1560 – the 61.8% retracement level (red dashed line).