The pair traded upwards on Monday and tested 1.0924 - a 61.8% pullback level (presented in a blue dotted line). Today, the price may continue to move up. Economic calendar news for the euro is expected at 09:00 UTC, and for the dollar at 12:30 and 14:00 UTC.
Trend analysis (Fig. 1).
Today, the upward trend is likely to continue from the level of 1.0917 (closing of yesterday's candle) with the target at 1.0960 - a 76.4% retracement level (presented in a blue dashed line). From this level, the price may begin to move downwards with the target of 1.0888 - a 38.2% pullback level (presented in a red dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger Lines - up;
- Weekly schedule - up.
General conclusion:
Today, the price may continue to move upwards from the level of 1.0917 (closing of yesterday's candle) with the target of 1.0960 - a 76.4% retracement level (presented in a blue dashed line). From this level, the price may begin to move downward with the target of 1.0888 - a 38.2% pullback level (represented in a red dashed line).
Another possible scenario is an upward trend from 1.0960 - a 76.4% retracement level (presented in a blue dashed line) with a target of 1.0983 - an 85.4% retracement level (presented in a blue dashed line).
