Trend analysis (Fig. 1).
The euro-dollar pair may move down from the level of 1.0547 (close of yesterday's daily candle) with the target of 1.0481, the 38.2% retracement level (yellow dotted line). After testing this level, the price may move upward with the target of 1.0572, the 76.4% retracement level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – up.
Today the price may move down from the level of 1.0547 (close of yesterday's daily candle) with the target of 1.0481, the 38.2% retracement level (yellow dotted line). After testing this level, the price may move upward with the target of 1.0572, the 76.4% retracement level (red dotted line).
Alternative scenario: from the level of 1.0547 (close of yesterday's daily candle), the price may move down with the target of 1.0513, the 23.6% retracement level (yellow dotted line). After testing this level, the price may move up with the target of 1.0572, the 76.4% retracement level (red dotted line).
