Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0062 (close of yesterday's daily candle) to test the lower fractal 0.9998 (red dotted line). Upon reaching this level, the price may rise to 1.0087, the 14.6% retracement level (red dotted line). From this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – up;
- Trend analysis – down;
- Bollinger bands – down;
- Weekly chart – down.
General conclusion:
Today, the price may move downward from the level of 1.0062 (close of yesterday's daily candle) to test the lower fractal 0.9998 (red dotted line). Upon reaching this level, the price may rise to 1.0087, the 14.6% retracement level (red dotted line). From this level, the price may continue to move up.
Alternative scenario: from the level of 1.0062 (close of yesterday's daily candle), the price may move downward to test the lower fractal 0.9998 (red dotted line). Upon reaching this level, continued downward movement is possible to 0.9945, the 261.8% Fibonacci retracement level (blue dotted line). From this level, the price may move up.
