Trend Analysis (Fig. 1)

On Thursday, the market from the level of 1.3129 (yesterday's daily candle close) may continue its downward movement with the target of 1.3110 – the target level of 161.8% (red dotted line). From this level, the price may possibly pull back upward with the target of 1.3178 – the 23.6% retracement level (blue dotted line).

Fig. 1 (Daily Chart)

Comprehensive Analysis:

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

General conclusion: Downward trend.

Alternative scenario:From the level of 1.3129 (yesterday's daily candle close), the price may continue moving downward with the target of 1.3077 – the target level of 176.4% (red dotted line). From this level, the price may possibly pull back upward with the target of 1.3110 – the target level of 161.8% (red dotted line).