Trend Analysis (Figure 1)

On Thursday, the market may continue its downward move from the 1.3417 level (yesterday's daily close), targeting 1.3369 – the lower fractal (yellow dashed line). From this level, the price may rebound upward toward 1.3405 – the historical resistance level (light blue dashed line).

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: From the 1.3417 level (yesterday's daily close), the price may continue downward toward 1.3369 – the lower fractal (yellow dashed line). From this level, it may then continue further down toward 1.3293 – the historical resistance level (light blue dashed line).