Trend analysis (Fig. 1).
The euro-dollar pair may move down from the level of 1.0735 (close of yesterday's daily candle) to the target of 1.0690, the 14.6% retracement level (yellow dotted line). After testing this level, the price may continue to move downward with the target of 1.0654, the 23.6% retracement level (yellow dotted line). Upon reaching this level, the price may move up.
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 – up.
Today, the price may move down from the level of 1.0735 (close of yesterday's daily candle) to the target of 1.0690, the 14.6% retracement level (yellow dotted line). After testing this level, the price may continue to move downward with the target of 1.0654, the 23.6% retracement level (yellow dotted line). Upon reaching this level, the price may move up.
Alternative scenario: from the level of 1.0735 (close of yesterday's daily candle), the price may move downward with the target of 1.0690, the 14.6% retracement level (yellow dotted line). After testing this level, the price may move upward to the upper fractal at 1.0748 (yellow dotted line).
