Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 1.0181 (close of yesterday's daily candle) to test 1.0227, the 14.6% retracement level (red dotted line). Upon reaching this level, the price may continue to rise to 1.0267, the 23.6% retracement level (red dotted line). From this level, the price may roll back down.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – down;
- Bollinger bands – up;
- Weekly chart – down.
General conclusion:
Today, the price may move upward from the level of 1.0181 (close of yesterday's daily candle) to test 1.0227, the 14.6% retracement level (red dotted line). Upon reaching this level, the price may continue to rise to 1.0267, the 23.6% retracement level (red dotted line). From this level, a downward pullback is possible.
Alternative scenario: from the level of 1.0181 (close of yesterday's daily candle), the price may move upward to test 1.0227, the 14.6% retracement level (red dotted line). Upon reaching this level, a downward movement is possible to test the lower fractal at 1.0161 (red dotted line). From here, the price may rise to 1.0227, the 14.6% retracement level (red dotted line).
