Trend analysis (Fig. 1).
The euro-dollar pair may move down from the level of 1.0711 (close of yesterday's daily candle) to the support level at 1.0677 (thick blue line). When testing this level, the price may move upward to 1.0767, the 14.6% retracement level (red dotted line). From this level, the upward movement may continue.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – down;
- Bollinger bands – down;
- Weekly chart – down.
General conclusion:
Today, the price may move down from the level of 1.0711 (close of yesterday's daily candle) to the support level at 1.0677 (thick blue line). When testing this level, the price may move upward to 1.0767, the 14.6% retracement level (red dotted line). From this level, the upward movement may continue.
Alternative scenario: from the level of 1.0711 (close of yesterday's daily candle), the price may move down to the support level at 1.0677 (thick blue line). When testing this level, the price may continue to move down to the lower border of the Bollinger line indicator at 1.0593 (black dotted line). From this level, upward movement is possible.
