Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0219 (closing of yesterday's daily candle) to 1.0197, the 23.6% retracement level (blue dotted line). When testing this level, an upward movement is possible to 1.0282, the 50% retracement level (red dotted line). From this level, the price may move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion:
Today the price may move downward from the level of 1.0219 (closing of yesterday's daily candle) to 1.0197, the 23.6% retracement level (blue dotted line). When testing this level, an upward movement is possible to 1.0282, the 50% retracement level (red dotted line). From this level, the price may move up.
Alternative scenario: from the level of 1.0219 (close of yesterday's daily candle), the price may move downward to 1.0150, the 38.2% retracement level (blue dotted line). When testing this level, an upward movement is possible to 1.0282, the 50% retracement level (red dotted line). When testing this level, the price may move up.
