Trend analysis (Fig. 1)
EUR / USD will move down today, from 1.1280 (closing of yesterday's daily candle) to the support line (red bold line) - 1.1254. Then, it will bounce back and head to the 14.6% retracement level (blue dashed line), 1.1314, and to the 23.6% retracement level (blue dashed line) - 1.1354.
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 decline from 1.1280 (closing of yesterday's daily candle) to the support line (red bold line) - 1.1254. Afterwards, it will go up to the 14.6% retracement level (blue dashed line), 1.1314, and to the 23.6% retracement level (blue dashed line), 1.1354.
That being said, there is little chance that the pair will drop from 1.1280 (closing of the Friday's daily candle) to the historical support level (blue dotted line) 1.1174, and then go up to the lower fractal (blue dashed line) - 1.1248.
