Trend analysis (Fig. 1).
The euro-dollar pair may move upward from 1.0509 (close of yesterday's daily candle) to 1.0573, the 50% retracement level (red dotted line). When testing this level, a downward pullback is possible to 1.0544, the 23.6% retracement level (red dotted line). From this level, it is possible to continue the upward movement.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
Today the price may move upward from 1.0509 (close of yesterday's daily candle) to 1.0573, the 50% retracement level (red dotted line). When testing this level, a downward pullback is possible to 1.0544, the 23.6% retracement level (red dotted line). From this level, it is possible to continue the upward movement.
Alternative scenario: from the level of 1.0509 (close of yesterday's daily candle), the price may move upward to 1.0573, the 50% retracement level (red dotted line). When testing this level, continued upward movement is possible to 1.0623, the 61.8% retracement level (yellow dotted line). From here, the price may move down.
