Trend analysis (Fig. 1).
The euro-dollar pair may move up from the level of 1.0379 (close of yesterday's daily candle) to 1.0474, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0550, the 23.6% retracement level (red dotted line).
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 1.0379 (close of yesterday's daily candle) to 1.0474, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0550, the 23.6% retracement level (red dotted line).
Alternative scenario: from the level of 1.0379 (close of yesterday's daily candle), the price may move down to 1.0259, the lower border of the Bollinger band indicator (black dotted line). After testing this level, the price may move up with the target of 1.0474, the 14.6% retracement level (red dotted line).
