Trend analysis (Fig. 1).
The euro-dollar pair may move up from the level of 1.0519 (close of yesterday's daily candle) to the target of 1.0575, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move up with the target of 1.0639, the 23.6% retracement level (red dotted line). News is expected at 12:15, 14:00, 14:30, 18:00, and 18:30 UTC.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
Today, the price may move up from the level of 1.0519 (close of yesterday's daily candle) to the target level of 1.0575, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move up with the target of 1.0639, the 23.6% retracement level (red dotted line).
Alternative scenario: from the level of 1.0519 (close of yesterday's daily candle), the price may move down to the lower fractal at 1.0471 (red dotted line). After testing this level, the price may start moving up with the target of 1.0575, the 14.6% retracement level (red dotted line).
