Trend analysis (Fig. 1).
The euro-dollar pair may move downward from 1.0533 (close of yesterday's daily candle) to the target of 1.0479, the 50% retracement level (red dotted line). After testing this level, the price may move upward with the target of 1.0573, the 50% retracement level (yellow dotted line). Upon reaching this level, upward movement may continue.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
Today the price may move downward from 1.0533 (close of yesterday's daily candle) to the target of 1.0479, the 50% retracement level (red dotted line). After testing this level, the price may move upward with the target of 1.0573, the 50% retracement level (yellow dotted line). Upon reaching this level, upward movement may continue.
Alternative scenario: from the level of 1.0533 (close of yesterday's daily candle), the price may move down with the target of 1.0479, the 50% retracement level (red dotted line). After testing this level, continued downward movement is possible to the historical support level 1.0464 (blue dotted line). Upon reaching this level, the price may move up.
