Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0620 (close of yesterday's daily candle) to 1.0576, the 38.2% retracement level (blue dotted line). When testing this level, the price may move upward to test 1.0639, the 23.6% retracement level (red dotted line). When this level is reached, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
Today, the price may move down from the level of 1.0620 (close of yesterday's daily candle) to 1.0576, the 38.2% retracement level (blue dotted line). When testing this level, the price may move upward to test 1.0639, the 23.6% retracement level (red dotted line). When this level is reached, the price may continue to move up.
Alternative scenario: from the level of 1.0620 (close of yesterday's daily candle), the price may move downward to 1.0556, the 50.0% retracement level (blue dotted line). When testing this level, the price may move upward to test 1.0639, the 23.6% retracement level (red dotted line). When this level is reached, the price may continue to move up.
