Trend analysis (Fig. 1)
EUR/USD is likely to rise this Friday, from 1.1329 (closing of yesterday's daily candle) to 1.1379, which is the 38.2% retracement level (blue dotted line). After that it will go further up to 1.1439, which is the 50.0% retracement level (blue dashed line).
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 climb up from 1.1329 (closing of yesterday's daily candle) to 1.1379, which is the 38.2% retracement level (blue dotted line). Then, it will continue rising to 1.1439, which is the 50.0% retracement level (blue dashed line).
That being said, there is little chance that the pair will increase from 1.1329 (closing of yesterday's daily candle) to the upper fractal at 1.1360 (red dotted line), and then go down to 1.1305, which is the 38.2% retracement level (red dotted line).
