Trend analysis (Fig. 1)
EUR/USD is likely to decline on Tuesday, from 1.1326 (closing of yesterday's daily candle) to 1.1299, which is the 61.8% retracement level (red dotted line). After that it will return to the 14.6% retracement level at 1.1327 (yellow dotted line), then go further upwards.
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 dip from 1.1326 (closing of yesterday's daily candle) to the 61.8% retracement level at 1.1299 (red dotted line), then go to 1.1327, which is the 14.6% retracement level (yellow dotted line). It may go further up after reaching that level.
Alternatively, the pair could move from 1.1326 (closing of yesterday's daily candle) to the lower fractal at 1.1290 (daily candle from 01/24/2022), then climb further to 1.1327, which is the 14.6% retracement level (yellow dotted line).
