Trend analysis (Fig. 1)
EUR/USD is likely to rally on Wednesday, from the closing of yesterday's daily candle (1.1323) to the 38.2% retracement level (1.1358). Then, it will go to the 50.0% retracement level (1.1382).
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 rise from 1.1323 (closing of yesterday's daily candle) to 1.1358, which is the 38.2% retracement level (dashed blue line). Then, it will go to 1.1382, which is the 50.0% retracement level (dashed blue line).
Alternatively, the pair could go down from 1.1323 (closing of yesterday's daily candle) to the support line at 1.1296 (thick blue line), then bounce up to the 38.2% retracement level at 1.1358 (dashed blue line).
