Trend analysis (Fig. 1).
The euro-dollar pair may move up from the level of 1.0717 (close of Friday's daily candle) to the upper fractal 1.0786 (yellow dotted line). After testing this level, the price may continue to move up 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 the level of 1.0717 (close of Friday's daily candle) to the upper fractal 1.0786 (yellow dotted line). After testing this level, the price may continue to move up 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 upward to the historical resistance level 1.0760 (blue dotted line). After testing this level, a downward movement is possible with the target at the support level 1.0690 (thick white line). From this level, the price may move up.
