Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 1.0170 (close of yesterday's daily candle) to the target of 1.0203, the 38.2% retracement level (red dotted line). After testing this level, the price may continue to move up with the target of 1.0282, the 50.0% retracement level (red dotted line). Upon reaching this level, work down.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
General conclusion:
Today, the price may move upward from the level of 1.0170 (close of yesterday's daily candle) to the target of 1.0203, the 38.2% retracement level (red dotted line). After testing this level, the price may continue to move up with the target of 1.0282, the 50.0% retracement level (red dotted line). Upon reaching this level, work down.
Alternative scenario: from the level of 1.0170 (close of yesterday's daily candle), the price may move downward with the target of 1.0110, the 61.8% retracement level (blue dotted line). After testing this level, an upward movement is possible with the target of 1.0203, the 38.2% retracement level (red dotted line).
