Trend analysis (Fig. 1)
EUR/USD may attempt to move up this Friday, from the closing of yesterday's daily candle at 1.1065 to the 50.0% retracement level at 1.1145 (dashed blue line). Then, it will go to the 61.8% retracement level at 1.1224 (dashed blue 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 rise from 1.1073 (closing of yesterday's daily candle) to 1.1145, which is the 50.0% retracement level (dashed blue line). After that it will move to the 61.8% retracement level at 1.1224 (dashed blue line).
Alternatively, the pair could go down from 1.1073 (closing of yesterday's daily candle) to the 61.8% retracement level at 1.1036 (yellow dotted line), then bounce back to the historical resistance level at 1.1190 (dashed blue line). A further increase to higher price levels is possible.
