Trend analysis (Fig. 1)
EUR / USD will most likely move down today, from 1.1611 (closing of yesterday's daily candle) to the 76.4% retracement level (red dotted line) - 1.1558. Afterwards, it should go up to the 14.6% retracement level (yellow dashed line) - 1.1580.
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - downtrend;
- Fibonacci levels - downtrend;
- Volumes - downtrend;
- Candlestick analysis - downtrend;
- Trend analysis - uptrend;
- Bollinger bands - downtrend;
- Weekly chart - uptrend.
Conclusion: EUR/USD will drop from 1.1611 (closing of yesterday's daily candle) to the 76.4% retracement level (red dotted line) - 1.1558, and then rise to the 14.6% retracement level (yellow dashed line) - 1.1580
Alternatively, it may fall from 1.1611 (closing of yesterday's daily candle) to the 61.8% retracement level (red dashed line) - 1.1579, and then go up to the 23.6% retracement level (yellow dashed line) - 1.1615.
