Trend analysis (Fig. 1).
The euro-dollar pair may move up from the level of 1.0734 (close of Friday's daily candle) to the target of 1.0797, the 76.4% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0850, the 85.4% 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 1.0734 (close of Friday's daily candle) to the target of 1.0797, the 76.4% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0850, the 85.4% retracement level (red dotted line).
Alternative scenario: from the level of 1.0734 (close of Friday's daily candle), the price may move up with the target of 1.0797, the 76.4% retracement level (red dotted line). After testing this level, a downward movement is possible with the target at the support level 1.0732 (thick white line).
