Trend analysis (Fig. 1)
EUR / USD may rise from 1.1604 (closing of yesterday's daily candle) to the 23.6% retracement level (yellow dashed line) - 1.1615, and then go further up 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: It is likely that EUR/USD will rise from 1.1604 (closing of yesterday's daily candle) to the 23.6% retracement level (yellow dashed line) - 1.1615, and then head to the 38.2% retracement level (yellow dashed line) - 1.1671.
Alternatively, EUR/USD could decline from 1.1604 (closing of yesterday's daily candle) to the 61.8% retracement level (red dotted line) - 1.1580, and then go back to the 23.6% retracement level (yellow dashed line) - 1.1615.
