Trend analysis (Fig. 1)
EUR / USD may rise from 1.1606 (closing of yesterday's daily candle) to the 23.6% retracement level (yellow dashed line) - 1.1615. After that, it will most likely climb again to the 38.2% retracement level (yellow dashed line) - 1.1671.
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion: There is a high chance that EUR/USD will climb from 1.1606 (closing of yesterday's daily candle) to the 23.6% retracement level (yellow dashed line) - 1.1615. Then, it will be followed by another increase to the 38.2% retracement level (yellow dashed line) - 1.1671.
Unlikely scenario: After rising from 1.1606 (closing of yesterday's daily candle) to the 23.6% retracement level (yellow dashed line) - 1.1615, EUR/USD will drop to the 50.0% retracement level (red dashed line) - 1.1574.
