Trend analysis (Fig. 1)
On Thursday, EUR/USD will try to rise from 1.1325 (closing of yesterday's daily candle) to the upper fractal at 1.1360 (red dotted line), then go further up to 1.1379, which is the 38.2% 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 1.1325 (closing of yesterday's daily candle) to the upper fractal at 1.1360 (red dotted line), then rise to 1.1379, which is the 38.2% retracement level (blue dashed line).
Alternatively, the pair could go down to the 38.2% retracement level (red dotted line) at 1.1307 after rising from 1.1325 (closing of yesterday's daily candle) to the upper fractal at 1.1360 (red dotted line).
