Trend analysis (Fig. 1).
The euro-dollar pair may move up from the level of 1.0812 (close of Friday's daily candle) to the target of 1.0857, the 23.6% retracement level (red dotted line). When testing this level, the price may continue to move upward with the target of 1.0920, the 38.2% retracement level (red dotted line). After testing this level, a downward pullback is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion:
Today, the price may move up from the level of 1.0812 (close of Friday's daily candle) to the target of 1.0857, the 23.6% retracement level (red dotted line). When testing this level, the price may continue to move upward with the target of 1.0920, the 38.2% retracement level (red dotted line). After testing this level, a downward pullback is possible.
Alternative scenario: from the level of 1.0812 (close of Friday's daily candle), the price may move down to the lower fractal 1.0757 (red dotted line). In case of testing this level, the price may move up with the target of 1.0819, the 14.6% retracement level (red dotted line).
