Trend analysis (Fig. 1)
EUR/USD will move up today, from 1.1553 (closing of yesterday's daily candle) to the 14.6% retracement level (yellow dashed line) - 1.1580. Then, it will continue rising to the 38.2% retracement level (yellow dashed line) - 1.1671.
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - uptrend;
- Fibonacci levels - uptrend;
- Volumes - uptrend;
- Candlestick analysis - uptrend;
- Trend analysis - uptrend;
- Bollinger bands - uptrend;
- Weekly chart - uptrend.
Conclusion: EUR/USD will most likely rise from 1.1553 (closing of yesterday's daily candle) to the 14.6% retracement level (yellow dashed line) - 1.1580, Afterwards, it will go up to the 38.2% retracement level (yellow dashed line) - 1.1671.
That being said, there is little chance that EUR/USD will drop from 1.1553 (closing of yesterday's daily candle) to the lower fractal (yellow dashed line) - 1.1524, and then go up to the 14.6% retracement level (yellow dashed line) - 1.1580.
