Trend analysis (Fig. 1).
The euro-dollar pair may roll back up from the level of 1.0116 (close of yesterday's daily candle) to the target of 1.0165, the 8-period EMA (thin blue line). After testing this level, the price may move down with the target of 1.0074, the 61.8% retracement level (blue dotted line). Upon reaching this level, the price may move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – up;
- Candlestick analysis – down;
- Trend analysis – down;
- Bollinger bands – down;
- Weekly chart – down.
General conclusion:
Today the price may roll back up from the level of 1.0116 (close of yesterday's daily candle) to the target of 1.0165, the 8-period EMA (thin blue line). After testing this level, the price may move down with the target of 1.0074, the 61.8% retracement level (blue dotted line). Upon reaching this level, the price may move up.
Alternative scenario: from the level of 1.0116 (close of yesterday's daily candle), the price may roll back up with the target of 1.0165, the 8-period EMA (thin blue line). After testing this level, a downward movement is possible with the target of 1.0028, the 76.4% retracement level (blue dotted line). Upon reaching this level, the price may move up.
